Reply #51: Close, but not really [View All]

[Nederland]

The free-market reassurance is limited to a statement that oil, as a substance, will always be with us. Note that the free market model doesn't posit a continuing supply of cheap energy. Quite the contrary: It specifically says that alternative energy will only come on line when the price of oil spikes.

This is close, but fails to take into account that the cost of alternate sources will drop considerably once their use become more widespread. For example, I see no reason why in the long run fuel cells would be more expensive to run than internal combustion engines. In fact, its reasonable to assume that once their use becomes more common, they will actually be cheaper simply because they are a more efficient means of converting energy.