Every few years, it seems like some environmental prognosticator warns that we will soon run out of oil. But according to an article in the New York Times by Michael Lynch, concerns about so-called “peak oil” are a few quarts short of a full dipstick. He notes that the estimated size of new oil fields is almost always revised upward as more pockets of oil are found, and new technologies make it possible to extract oil that was previously unreachable. Since he notes that geologists believe there are now 10 trillion barrels of oil out there, with some 35 percent likely to be available, not even including potential sources such as tar sands, worrying about disappearing oil is probably just a waste of energy.
October 26, 2009 by CFACT,
CFACT defends the environment and human welfare through facts, news, and analysis.