GORE LIED

Digital Journal reports:

A stark assessment from the International Energy Agency’s chief economist concludes that the world’s top oil fields have already surpassed peak production and that the world’s oil supplies are running out faster than predicted.

The world is running out of oil at a pace that is considerably faster than prior assessments predicted – and the biggest oil fields in the world have already crested from peak production levels. This is the conclusion of the International Energy Agency’s chief economist Dr. Fatih Birol. The prediction of a catastrophic energy crunch – as foretold in these collapsing fields – would cripple the global economy, sending energy prices skyrocketing and halting most transportation and production.

Pardon me, but this is just B.S.

In his book, The Ultimate Resource II, the late Julian Simon, who was fond of calling energy “the master resource”, argued strongly against this oft repeated myth years ago, when he asked:

When will we run out of oil?”

And then answered his own question:

“Never!”

The Peak Oil crowd will argue that since oil is finite we will eventually run out of it unless we stop using it. I suppose that just seems like common sense to most people, but from an economic standpoint, that is totally irrelevant.

Readers who are interested in reading more on this subject should visit the Master Resource blog, which was inspired by Simon’s writings.

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