Red Cavaney Until Quotations

Yes, someday oil will be replaced, but clearly not until alternatives are found and tested - alternatives that are proven more reliable, more versatile, and more cost-competitive than oil.

Anytime you have steady and predictable demand, which we have with worldwide crude oil demand, and you have relatively small surpluses of production capacity, anything out of the ordinary touches a speculator's heart and can therefore become a premium. Until you have a reasonable surplus capacity, you're going to have problems.