Goodbye “Peak Oil” Hello Glut
Posted: Sat 01 Oct 2011, 13:36:42
I’ve never had much time for “peak oil” (the notion held with religious conviction by many on the left here, that world oil production either has or is about to top out – and will soon slide, plunging the world’s energy economies into disarray and traumatic change.) In fact there’s plenty of oil, as witness the vast new North Dakota oil shale fields, with the constraints as always being the costs of recovery. Oil “shortages” are contrivances by the oil companies and allied brokers and middlemen to run up the price.
http://www.counterpunch.org/2011/09/30/ ... ello-glut/
Yergin really got the ostriches shakin' their tail feathers!