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The end of cheap oil may be in sight. It's hard to know because the peak oil experts have changed their predictions before, and most geologist disagree. But peak cheap-oil, or the fear of it, could push us in one of two directions: towards conservation (as happened during the 1979 peak), or toward liquid coal and shale oil.
Unfortunately, since peak oilers often deny that global warming is a problem, and always claim peak oil is a much bigger problem, their fear-mongering is pushing us toward expensive-oil solutions like liquid coal which are disastrous from a global-warming perspective. This is exacerbated by their denial of economics, which is the force behind the huge amounts of conservation in response to the 1979 oil peak.
Peak oilers should either learn some economics, or stop their economic fear mongering, because this is given ammunition to the military, Big Oil, and the Southern States Energy Board all of which are pushing for huge liquid coal and shale oil shale oil subsidies. These would be devastating for climate change.
A July 2006 report from the Southern States Energy Board, representing sixteen states, recommends a list of subsidies for big oil companies and justifies them as follows. “America now faces a crisis of historic proportion: a liquid transportation fuels crisis. This Study shows that immediate implementation of ‘crash’ programs to ramp up production of domestic alternative liquid transportation fuels is the only way to insure against peak oil.”
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http://zfacts.com/p/861.html | 01/18/12 07:21 GMT
Modified: Mon, 26 Nov 2007 21:50:44 GMT
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