Peak Oil Confusion

Although the issue of peak oil has gained attention over the last several years (due mainly to oil prices skyrocketing to $147 per barrel in 2008), it’s simply amazing that most opponents have no idea what “peak oil” means.

Even more stunning to my readers and I is that no matter how many times we try to explain it, the critics continue to repeat the same argument. No matter what you say or show them, they fall back on this excuse: “The world isn’t running out of oil,” followed by several denigrating remarks.

The only thing to do is to simply tell them that you agree. The world isn’t running out of oil.

If nothing else, my readers know that peak oil doesn’t come down to the world running out of oil. So, you can imagine our disappointment when the Saudis announce, “There is plenty of oil in the ground and the world should put aside fears about ‘peak oil’.”

I have yet to meet an advocate of peak oil that believes the world is running out of oil.

Energy and Capital