February 22, 2013

Say, Does Anyone Remember 'Peak Oil'?

Vaclav Smil, The American


When the final figures for the fourth quarter of 2012 are in, the world will have a new crude oil production record: the total for the first three quarters was about 1 percent ahead of the 2011 total. This is a remarkable achievement for a commodity with annual output that now surpasses, for the first time ever, 4 billion metric tons and which has been, for decades, the largest source of fossil energy and the most valuable item of international commerce.

Global oil extraction was down in 2009 (2.5 percent lower than 2008 levels), but that had nothing to do with declining reserves and everything to do with weakened demand in the midst of the world’s worst postwar economic recession. That dip was brief; in 2010 global output was up by 2 percent and in 2011 it went...

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TAGGED: Vaclav Smil, Peak Oil


October 17, 2013
From Peak Oil to Fossil Fuel Euphoria
Michael Klare, OilPrice.com
For years, energy analysts had been anticipating an imminent decline in global oil supplies. Suddenly, they’re singing a new song: Fossil fuels growing scarce? Don’t even think about it! The news couldn’t be better:... more ››