Peak Oil and the new reality
Many people are countering the truth of peak oil with a claim that oil demand will peak before oil supply does. It is posited that the high prices associated with peak will be the driver of increased efficiency, energy alternatives, and an overall decline in use. Therefore, we don’t have to worry about peak oil: simple market forces will lead us to a stronger future.
This is bullshit, pure and plain.
Falling demand won’t be the limit. Instead, demand is rising dramatically in the world’s emerging economies, especially China and India. Continue reading