[lbo-talk] the petro-thusians have their moment

[Wojtek Sokolowski]

Doug quoted WSJ:
> The oil industry calls Dr. Campbell a crackpot. Since he began
> writing about a looming peak, the industry notes, he has
> progressively postponed his predicted date, from 1995 to 2005. This
> roughness of the numbers, the industry says, points to a more
> fundamental problem with the peak-oil theory: It underestimates the
> power of technology to find more oil -- indeed, to broaden the
> concept of oil itself.

Of course, the oil industry is known for its rock solid judgment, as
documented, inter alia, by their belief that oil spills can be prevented and
maintained:

For an interesting account of the mind set of oil (and other energy) execs
and experts see Lee Clarke, _ Mission Improbable: Using Fantasy Documents to
Tame Disaster_.

Wojtek