‘At the current pace of research and development, global oil will run out 90 years before replacement technologies are ready, says a new University of California, Davis, study based on stock market expectations.’
Duh, but the price will rise as the supply begins to dwindle, then the pace will pickup for replacements.
They also base their results on long-term investment trends.
Another reason long term investment is low in replacements, is because investors believe either the end of oil predictions could be off by anywhere from 50 to 150 years, and hence dangerous investments.
They also could be worried that government will outlaw oil in the united states J
If cap in trade had gone into effect this year, their investments would have been worth zip.