From those wild-eyed tree huggers at the Wall Street Journal.
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Hughes is not alone in predicting that fears over peaking oil supplies are largely unfounded, on the grounds that economies will find replacement sources of energy at a faster rate than the oil industry expects. Let’s hope so. Because that will mean we’ve switched to a renewable energy, non-petroleum-based economy. BP and Verenium form cellulosic [...] Oh wait, it’s a major oil company that’s saying it. Infectious Greed We have temporarily dodged a bullet. The upcoming IEA World Energy Report will say that global oil supplies are falling faster than expected, and massive investments are required just to (almost) stand still. The only thing making things marginally less calamitous? The current downturn-induced demand collapse has given us a little more [...] ‘A History of Oil’ comes highly recommended by both Sue and Wood at John Heron Project. (Haven’t had time to watch it yet, have been traveling and am at hotel with flaky wifi as I type this.) Gasoline historically has been extremely cheap. It still costs less than beer or most any other liquid. Matt Simmons thinks gas could go to $12-15 a gallon. Demand is increasing while supply is dropping. That’s the problem. To paraphrase Waylon Jennings, Don’t you think this doomster bit has done got out of hand. That’s what Paul Kedrofsky asked on Twitter, “are peak oil theorists turning into doomster defeatists?”, linking to a discussion on The Oil Drum. Yeah, some are. Peak oil and global warming have become religion to them and deviations from [...] Jim Kuntsler on how the end of cheap oil quite possibly means the end of mass-scale enterprises like industrial farming and a rise in political turmoil as the dispossessed see their way of life slip away. Kuntsler is even less optimistic than Matt Simmons about the possibility of renewable energy supplying much of our [...] He sees the biggest obstacle stopping us from going to renewables is the mistaken belief that oil prices are temporarily high and will drop. So rather than deal with the problem, we’re going on a witch hunt to see who is keeping prices up. Even if we started drilling offshore everywhere now, we wouldn’t [...] What’s up with oil prices? Well, it’s not speculators, and there’s no relief in sight, meaning at least five more years of high prices with no easy fixes. The ugly truth? Peak oil isn’t fringe anymore—it’s going mainstream. The dozens of comments to this Wall Street Journal blog post indicate that even in this bastion [...] |  | ||||
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