[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.
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.