[lbo-talk] Is There Anything To This Peak Oil Business?

[kjkhoo at softhome.net]

At 3:27 PM -0500 16/11/03, Doug Henwood wrote:
>Miles Jackson wrote:
>
>>I think this came up onlist a few years ago; you should check
>>the archives.  Deffeyes's book Hubbert's Peak is a good
>>exposition of this.  He's a geologist who uses a plausible
>>statistical model to predict a worldwide peak in oil
>>production no later than 2010.  His model quite nicely
>>accounts for the rise and continuing decline of oil
>>production in the U. S.  As with all statistical models,
>>the model only as good as the assumptions used to create
>>it; however, it's not crackpot-green propaganda.
>
>From what I've read, it may be just the opposite - petrophiles love 
>it because it justifies subsidies and more aggressive exploration.

Deffeyes loves the oil industry. But doesn't he also say that no 
amount of aggressive exploration, etc. can put off the peak, and the 
impending turmoil in oil prices?

That WSJ piece you posted suggested a 'pie-in-sky/deep earth' kind of 
theory. Not inadmissible in itself -- but has there been any further 
developments/follow-up since that 1999 story? 4 years is a long time.

kj khoo