Supply and demand

Seth Godin has a very thought-provoking thought about oil and supply and demand:

So they said on the radio today that for the first time ever, oil consumption worldwide is exceeding oil production.

How does that change your world? How will it change your world a decade from now?

It’s making me think. What do you think, if indeed this is true, this could mean for our future? It’s kind of fun to dream.

I know this brings up all sorts of political views (drill for more oil, wean off the Middle East, etc), and there are environmental issues (drill for more oil, alternative fuel).

Makes me think though…why does the price of technology get cheaper while the price of oil and other mechanical processes increases?

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  • I think there’s just a lot of room to improve computer technology. For example, engineers are constantly making hard drives with more storage, even though they’re the same physical size as the ones made 5 years ago. Computer technology started well below physical limitations.

    Oil, on the other hand… well you can only get so many gallons of gasoline from oil. And you can only physically get so much energy release from a gallon of gas — a level we’re typically not too far away from.