Facing the facts on oil

Just under Glenn Zorpette's nice op-ed article in today's New York Times (see entry below) was a large ad-ed placed by ExxonMobil. Titled "Peak Oil? Contrary to the theory, oil production shows no sign of a peak," the piece blows smoke at the growing consensus among serious petroleum geologists that production of the cheap oil on which all modern economies are based is fast approaching the day when it stops growing to match demand, levels off for a while, and then inexorably falls. While many of its peer companies, including BP and Shell, have recognized the coming sea change and have begun (slowly) restructuring their research and development accordingly, ExxonMobil has apparently decided to address this looming socioeconomic problem by trying to convince the public and politicians that it isn't there.

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