Monday, September 7, 2009

"Simmons vs Yergin, Lynch et al on Peak Oil," By Kate Mackenzie, Financial Times, September 7, 2009

Kate Makenzie at the Financial Times is trying to inform readers about Peak Oil. She counter poses William Simmons with Daniel Yergen, Michael Lynch, and Ed Morse. Readers are left with questions about who is right. Here is my my published comment :

Global oil production peaked in 2008 and is now in terminal decline. The evidence is clear. During the period 2004 to 2008, as oil prices climbed, all oil producers were pumping at maximum effort with historically high oil prices. During this period, oil production remained flat, peaked a bit in July 2008 and then began to decline while oil prices were very high and before the October global economic collapse, as documented here. And the depletion picture is far worse than Simmons indicated, as explained here.

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