Tuesday, January 24, 2006
I've referred to peak oil here before, but this weekend I read an excellent article about the topic in the UK's Independent Online. One thing that stands out is that even British Petroleum's estimate of proven reserves is filled with caveats that render it useless. The article also details the way the largest OPEC producers suspiciously increased their "proven reserves" dramatically almost overnight. The author also talks about the decline of giant oilfields and our failure to discover significant new oilfields. There's a lot of good but scary info here. It's far too long to summarize, so you'll have to read it. This is the sort of thing responsible for my always cheery disposition.
Posted by David Johnsen at 2:47 AM