Peak oil theories ‘increasingly groundless’, says BP chief

“Peak oil” will certainly become increasingly meaningless (at least from a U.S. perspective) as Obama shuts down our economy.

“The US will be self-sufficient in energy by 2030, with only 1% coming from imports, the company’s analysts predict.” [The Guardian]

1 Comment

  1. Current propaganda around oil and especially US capacity is truly atrocious.

    Behind this there is a myth that is really time to debunk : that the first oil shock was due to the “arab embargo”, when it was a direct consequence of US production peak in 1970.
    The embargo was a quasi non event in terms of barrels taken out of the market.
    And looking at below graph should be sufficient to clear up things :


Your email address will not be published. Required fields are marked *