It’s possible that we would choose to give up on oil well before we hit any limits to supplies, but there’s no sign that’s happening. At some point, production will have to reach a peak, whether we like it or not. This post is the first in the series.Ī bit of background: The idea of peak oil is that oil supplies are limited-they are not infinite, and not regenerating themselves anywhere near the speed at which we’re using them up-so production can’t go up and up forever.
Yergin argues, however, that “on a global view, Hubbert’s Peak is still not in sight.”īut the arguments in his article-and in his 800-page book-are full of gaping holes, so I’m going to dedicate a number of blog posts to sticking my head into a number of them. In “ There Will Be Oil“-his article in the Wall Street Journal to plug his new book, The Quest-Yergin sums up a chapter of his book, the one about fears that the world will soon reach its peak of oil production.
Peak Oil Projection Was Far Off? (Part 1)ĭaniel Yergin, a Pulitzer Prize-winning historian and energy analyst, is one of the world’s greatest optimists about oil supplies. NOTE: Images in this archived article have been removed.
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