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Southern Tier NY | That's odd. I remember learning in school that all non-renewable natural resources would eventually reach 'peak' production, and steel was considered non-renewable. That was a looooong time ago, though, and maybe I'm not remembering correctly. Or maybe the parameters / information have changed.
Not sure either way about 'peak' oil. I can believe that natural gas continues to be produced from deep in the bowels of the earth, but crude oil? I don't know. Oil wells do slow down in production, and the 'easy' oil has all been found, for the most part. Gas wells do run out also, at least some of the shallow ones have, so who knows for sure?
I do know that all the gas exploration companies in my area (upstate NY, northern PA) are throwing money around like all forms of energy are finite. Latest numbers I've heard for a gas lease are $1500 / acre for 5 years, all paid up front, plus 15% of the royalties. Maybe other areas of the country are receiving more, but around here, that's some serious money. | |
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Steel--true or not
