Alternative Energy Resources are no Match for Oilby Bruce Berkowitz
The physics make sense to us that this is a resource that’s being used up. Every major field outside of Saudi Arabia is in decline. Those people who talk about this endless supply of oil regenerating and bubbling up from the center of the earth, where is it? We started working through the alternatives: nuclear power, solar, wind, oil shale, coal-to-gas. I made myself crazy one weekend trying to figure out the potential for ethanol. All of these have their own problems – from safety, to capacity constraints, to cost, to lead times – and it’s going to be hard for any of these to compete with oil even at today’s prices.