March 5, 2007

HUMBLED PEAKISTS:

Oil Innovations Pump New Life Into Old Wells (JAD MOUAWAD, 3/05/07, NY Times)

Within the last decade, technology advances have made it possible to unlock more oil from old fields, and, at the same time, higher oil prices have made it economical for companies to go after reserves that are harder to reach. With plenty of oil still left in familiar locations, forecasts that the world's reserves are drying out have given way to predictions that more oil can be found than ever before.

Posted by Orrin Judd at March 5, 2007 6:46 AM
Comments

I was just thinking about how the same people who told me that we were all going to die when Y2K hit are the same people telling me now that we're all going to die when Peak Oil hits. The difference is that Y2K was a firm deadline - on January 1, 2000 when we all got up to check our e-mail everything was still working and we all had a good laugh at the Y2K cultists. Peak Oil is off in a nebulous future, so they can keep predicting doom and gloom and not ever have to worry about being wrong.

Posted by: Bryan at March 5, 2007 11:19 AM
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