The receding threat from ‘peak oil’

The BBC reports:

Concerns about oil supplies running dry are receding, according to the International Energy Agency (IEA).

Massive new discoveries in the US have led to a “dramatic” change in global prospects.

US oil production

Read more…

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7 responses to “The receding threat from ‘peak oil’

  1. These are not new finds only an increase in technology that allows the extraction of oil. Ingenuity of the human mind is a great asset when not stifled by group think.

    • Not correct. The new technology allows recovery of deeper gas/oil that was previously unrecoverable. Most of these finds are new production, although their existence has been known for a long time..

  2. I think that if we were to Frack all of the existing old wells we would be set for a couple of hundred years.

  3. The UK has recently discovered a major shale oil field in Northern England. The natural gas here could displace quite a bit of their coal energy and that would reduce real pollution, as well as the phantasm CO2 “pollution”. It would stimulate their economy to near orgasm and reduce energy poverty and improve standards of living for the UK’s most vulnerable people.
    So the UK is going to increase their offshore wind production by 800%.

  4. Add that many more wind turbines and future generations of British children may never know the airspeed velocity of an unladen swallow.

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