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Posted Sun Sep 6 2009: from Foreign Policy:
Oil Spin
Last week, four of the world's most outspoken oil aficionados waded into the controversy of peak oil, publishing articles packed with myth and distortion. This "Gang of Four" all claimed the issue was silly, moot, or simply a myth.... Thus, these four global oil authorities mused that oil, celebrating its 150th birthday last week, has never been in better shape. How terrific the world's outlook would be if these four myths had even a touch of reality! Sadly, if one ignores opinion and simply adheres to a body of well-documented -- if ugly -- facts, it quickly becomes clear that these four assertions are utterly without substance.... The facts speak for themselves: Oil flows have peaked, technology is now mature, the people running the industry are far too old, and few top-notch graduates are interested in embarking on a career in such a volatile field.
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'Doc Michael says:
And the writer has been an oil-service investment banker for decades. Gulp.

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