Does the Peak Oil “Myth” Just Fall Down?

The editors of The Oil Drum respond to Why the “Peak Oil” Theory Falls Down — Myths, Legends and the Future of Oil Resources by Peter M. Jackson, Cambridge Energy Research Associates (CERA)

We are concerned that CERA has “maintained a consistent contrary view” and not taken the peak oil hypothesis seriously until now. We can only agree that “this debate reflects one of the most important issues facing not only the energy industry, but the world at large.” We hope our response demonstrates that the peak oil hypothesis is anything but simplistic. Furthermore, no one here or elsewhere is claiming that conventional oil will “run out” anytime soon. Rather, the peak oil view is an evolving, sophisticated take on conventional oil production and the viability of substitutes to replace continuing demand for this paramount fossil fuel in the face of inevitable declines in available supply. Only the timing of such declines is at issue here. We can also only add that denial in the face of potentially very threatening events is a powerful force in the human psyche.

[The Oil Drum]

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