Go ahead, buy an SUV

Here’s a recent article on msnbc dismissing peak oil.  An assumptions made in the article is that oil consumption will remain constant (not increase?).  I’m sure China would argue that one. 

A quote from the article reads:

“Peak oil” theorists fail to note that the industry has replaced more oil reserves through field reserve upgrades than from exploration, which has tended to keep production levels steady, Jackson said.

This makes no sense to me.  Call me old fashioned, but I think that actual exploration would keep production levels steady far more than magically ugrading a well’s reserves using a computer model.  Whether peak oil hits in 24 years or was last year, only time will reveal.  The point that hits home for me is the short time frame that most people (Americans?) operate on.

http://www.msnbc.msn.com/id/15715744/

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