[YERGIN] ...debunks the peak oil theory, which says world gas and oil production may soon top out and then rapidly decline. (This idea helped lead to the price spike of 2008.) Yergin notes that such fears have cropped up before.“This is not the first time the world has run out of oil,” he writes. “It is the fifth.”
Yergin is confident that the industry will be able to keep up with growing demand. He says an IHS CERA study of some 70,000 oil fields reveals that “the world is clearly not running out of oil. Far from it.”
Supply is growing, not shrinking, Yergin says. This is due not only to new discoveries but to an even more important source: additional oil found in existing fields.
PEAK OIL IS A LEFTIST HOAX - LIKE THE AGW/CO2 HOAX - DESIGNED TO SHEPHERD IN SOCIALIST CONTROL.
3 comments:
You might like to take a look at the several well considered rebuttals to Yergin (who is bought and paid for by the oil industry anyway) published on the Internet since he opened his mouth to spout nonsense
FACT: THEE IS MORE RECOVERABLE OIL AND GAS TODAY THAN AT ANY TIME IN HISTORY.
Oil shale
http://www.eccos.us/index.php?option=com_content&view=article&id=10&Itemid=6
Obama oil lie
http://tinyurl.com/3f7tqc7
Green River basin
http://ostseis.anl.gov/guide/oilshale/
Bakken Formation
http://www.nextenergynews.com/news1/next-energy-news2.13s.html
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