Great moments in failed predictions of resource depletion | AEIdeas
"1. In 1885, the US Geological Survey announced that there was “little or no chance” of oil being discovered in California. In 1891, it said the same thing about Kansas and Texas.
2. In 1939 the US Department of the Interior said that American oil supplies would last only another 13 years.
3. 1944 federal government review predicted that by now the US would have exhausted its reserves of 21 of 41 commodities it examined. Among them were tin, nickel, zinc, lead and manganese.
4. In 1949 the Secretary of the Interior announced that the end of US oil was in sight.
5. In 1974, the US Geological Survey announced “at 1974 technology and 1974 price” the US had only a 10-year supply of natural gas.
For the full list of failed predictions, go here.
HT: Joe Lais"