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Do we have sufficient oil?The oil price and Shale gas

There is a natural resource that humans have been used recklessly and egotistically. It is oil that is plenty but finite. A few years ago, a surge of the oil price was hotly debated issues. Most of all, lots of people expected the surge of the oil price and found a few reason for it. First, advanced by demand-driven which argue that the reason of rising oil price is determined by the demand for oil. Actually in that time, as China and India were growing, they need even more oil than before. The second reason that some people expect as the reason of ascending oil price is the shortage of oil supply. Their opinion is that OPEC which is organization could manage the oil supply efficiently reduce oil output on purpose of rising oil price. The last opinion is The exhaustion of the total oil reserves. However, these all predictions were not correct.

Current days, we live in low oil price age. What made it possible? One of the things that effect to stay low oil price is shale gas. Experts said that it can replace oil for sixty years from now without oil. However, the shale gas is also a finite resource. So we have not to forget New and renewable energy for when we use all finite natural resources.

박준형  zzz000525@naver.com

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