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There was a lot of panic-mongering last year about Peak Oil (sometimes also called the "Hubbert Peak" after the guy who first predicted such a phenomenon), though the calamatiphiles have seemed to move on to other things. The problem with playing Chicken Little is what to do when the sky does not fall in, I guess.
So here's the thing -- nobody disagrees with the assessment that we're going to run out of oil sooner or later, but there are a lot of people saying it's going to be much later than the Doomsday crowd wants you to believe. Cambridge Energy Research Associates, which has been one of the biggest contrary voices with regard to the Peak Oil scenario, has released a new report that looks at emerging "unconventional" oil supplies (like the one found recently in the Gulf of Mexico) and concludes that available reserves forestall any sort of precipitous drop-off in global oil production for decades beyond the "Peak Oil" scenario.
Of course, that's bad news if your calamity of choice is Global Warming.
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