Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (1 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Article Stats   3 comments

We Were Wrong on Peak Oil

Quicklink submitted by Josh Mitteldorf     Permalink
Related Topic(s): ; ; ; , Add Tags

Interesting 1  
View Ratings | Rate It

opednews.com Headlined to H2 7/7/12

Become a Fan
  (36 fans)


At www.guardian.co.uk

The facts have changed, now we must change too. For the past 10 years an unlikely coalition of geologists, oil drillers, bankers, military strategists and environmentalists has been warning that peak oil – the decline of global supplies – is just around the corner. The high prices of the past few years have changed that. Maugeri's analysis of projects in 23 countries suggests that global oil supplies are likely to rise by a net 17m barrels per day (to 110m) by 2020. This, he says, is 'the largest potential addition to the world's oil supply capacity since the 1980s'. The investments required to make this boom happen depend on a long-term price of $70 a barrel – the current cost of Brent crude is $95.

Read the rest of the story HERE:

At www.guardian.co.uk


 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
3 people are discussing this page, with 3 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

Thanks for sharing this Josh.  No surprises f... by Burl Hall on Sunday, Jul 8, 2012 at 3:31:12 PM
Addressing the theory in circulation that oil is n... by 911TRUTH on Monday, Jul 9, 2012 at 12:02:43 AM
If only there was a very limited amount of oil tha... by Theresa Paulfranz on Monday, Jul 9, 2012 at 9:47:39 PM