[quote=Arraya]
So oil peaking, world wide, is an observation rather than a theory. [/quote]
These folks at Cambridge Energy Research Associates clearly don’t think oil peaking is an “observation.” They’re still in the “theory” camp, and they believe it’s a bad one at that. (This article has graphs and everything!)
I believe that CERA is headed by Daniel Yergin, the guy that wrote “The Prize: The Epic Quest for Oil, Money, and Power,” which I read back in the ’90s (and has little to do with “peak oil,” but I digress). Anyhow, I don’t know if Yergin has some agenda or axe to grind. Furthermore, I hate playing “Pit the Experts Against One Another” on topics in which I have little knowledge.
Nevertheless, clearly many “experts” don’t believe a lack of oil is going to lead us to near- or intermediate-term Armageddon. Having said that, someone’s going to have to be wrong in this debate. I don’t have the expertise to know who. But, then again, neither do you (although I doubt you’ll acknowledge it).
