Word: cheaping
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...that doesn't mean we're off the hook. "There is enough oil, but most of the easy oil, the cheap oil has been got out," says David Wyss, chief economist at Standard & Poor's. Energy experts obsess over whether we've reached "Hubbert's peak," the point at which oil reserves are 50% depleted. That's because the remaining 50% gets increasingly harder and more expensive to extract. At some point in the next decade or so--estimates range from 15 to 25 years--the world's oil production will peak. Yet demand for oil will continue to rise...
...cheap oil is now just part of history...
...recent book The Long Emergency, by James Howard Kuntsler, goes like this: gasoline will soon get so expensive that most Americans simply won't be able to afford it. Suburbs, strip malls, interstate highways, the infrastructure of the modern U.S. economy just won't work anymore without cheap oil, and the U.S. will have to reinvent itself or risk falling into decay. That dire prophecy, though, is really all about timing. Georgia Tech's Shelton, an engineering professor and oil-futures expert, says the extent of the economic damage depends on how fast oil prices rise. A slow climb "gives...
...able to vote multiple times for their preferred candidate, skewing the results, according to Joseph P. Torella ’08, organizer of the pageant and a Crimson editor. After figuring out that tallying the votes using individual IP addresses could solve that issue, the pageant’s cheap sponsors—who were unwilling to pay to prevent multiple-voting in the first place—decided to reexamine the results. As of Tuesday afternoon, 1211 ballots had been cast for the Crimson Yard election alone, probably more than the number of undergraduates who even know about...
...serious “law types” decked out in rec-specs and headbands flock to the open court on weekday afternoons. The decrepit gym with bars on the windows and crusty red pads lining the walls gives this game an old-school ambiance. Given the frequency of cheap fouls and grumbling, arguments arise consistently, and battling a prosecutor-in-training never ends well. “There’s not a whole lot of athleticism here,” says D. Allen Floyd II, a law student and Hemenway regular, “but some guys...