Debunking "peak oil" theory
I've written more than once on these pages that I think the "peak oil theory", namely that we're running out of oil in a time frame that is relevant, is bulls**t.
Today, I offer you this interesting article in which an executive from Shell Oil (an employee of which started the "peak oil" concept some decades ago) questions the theory's assumptions.
But even if you like the theory, I'd point out that the facts don't agree with it, as proven reserves rise, not fall, almost every year, regardless of our consumption because of better technology to both find and extract oil.
see "Shell exec says world not running out of oil" (WND, 3/20/08)
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