…believes that a high price of oil will encourage new discoveries, such that the concept of peak oil is not valid. This is a classic example of what could be called ‘Price religion’.
Could I suggest that Tony Abbott (and I guess many ideological economic zealots) try and apply their logic elsewhere.
For example, if the price of fish goes up, does that mean that we will discover more fish on the Great Barrier Reef?
If the price of land goes up, will we discover more land?
Of course Tony Abbott and other followers of the Price religion don’t believe we will find more fish on the reef if the price goes up. But somehow, they will leave their logic at the door when it comes to oil or other fossil and mineral resources.
Then again, he could just be reiterating his party line – it is probably not a good time to let the media catch a glimpse of anything other than unity in the Liberal party these days.
Best of luck with that Tony.
*Note: I have grown to dislike all the current political parties, although I used to give support to the Greens. Maybe there is an opportunity for a fresh young political party in Australia these days?