The perplexing problems of peak oil and gas
The temporary drop in gasoline prices is leading a number of people astray. A writer for Bloomberg.com has declared “The oil crisis is over.” That may be very comforting, but the assertion also is very wrong.
Gasoline prices are not down to stay. The Bloomberg scribe did not take into account several things before he declared peak oil was all through.
Byron King, writing in the Daily Reckoning, noted: “Over the next 20 years, the absolute quantity of petroleum available to the world on any given day will decline. We should only hope, and perhaps be so lucky in a Star Trek future, that fuel efficiency on a global scale will be able to make up for the decline in availability of liquid fuel. But that idea is fanciful if you understand the depletion curves that are out there.
( Full story here )
Gasoline prices are not down to stay. The Bloomberg scribe did not take into account several things before he declared peak oil was all through.
Byron King, writing in the Daily Reckoning, noted: “Over the next 20 years, the absolute quantity of petroleum available to the world on any given day will decline. We should only hope, and perhaps be so lucky in a Star Trek future, that fuel efficiency on a global scale will be able to make up for the decline in availability of liquid fuel. But that idea is fanciful if you understand the depletion curves that are out there.
( Full story here )
posted by Oil Shock at 3/08/2006 11:27:00 PM
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