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In the Canadian province of Alberta, 80,000 people have been ordered to evacuate the Fort McMurray area, where a wildfire has burned 1,600 buildings and more than 10,000 hectares (about 24,700 acres). The cause of the fire is unknown, but "very high temperatures, low relative humidities and some strong winds" are said to favor its spread.
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80,000 Evacuated Ahead of Alberta Fire
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But what can you do with it?
-- ubiquitous cry from Linux-user partner
(Score: 1) by khallow on Thursday May 05 2016, @09:46PM
Yeah, I'd expect that, but it could be 10 to 15 to even 20 years. I mean there was a bust on oil prices in the 80's and prices didn't spike, to the point the oil sands became profitable again, until the early 00's.
I think it won't take that long. First, where's the cheap oil coming from now? My take is competing OPEC members who are rapidly depleting their cheaper reserves. Second, why is oil cheap now? Because a few countries, particularly, China, are temporarily cutting back on demand.
As soon as electric vehicles become a viable norm, which I expect in the next 10-20 years, oil demand will drop like a stone.
Won't happen. Cheap oil is the primary obstruction to electric vehicle adoption (I would rank it over infrastructure support). Electric vehicles just aren't viable until oil remains expensive to the vehicle owners either by taxation/penalties or reduced supply. OR the cost of electricity and electric vehicles drop through the floor (which means that oil may be cheap, but it would be relatively expensive compared to the electric vehicle alternative).