Posted by Michael Klare at 8:09am,
January 9, 2014.
Peak Oil Is Dead
Long Live Peak Oil!
By Michael T. Klare
Among the big energy stories of 2013, “peak oil” -- the once-popular
notion that worldwide oil production would soon reach a maximum level
and begin an irreversible decline -- was thoroughly discredited. The
explosive development of shale oil and other unconventional fuels in the
United States helped put it in its grave.
As the year went on, the eulogies came in fast and furious. “Today,
it is probably safe to say we have slayed ‘peak oil’ once and for all,
thanks to the combination of new shale oil and gas production
techniques,” declared
Rob Wile, an energy and economics reporter for Business Insider.
Similar comments from energy experts were commonplace, prompting an
R.I.P. headline at Time.com announcing, “Peak Oil is Dead.”
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