‘Peak Oil’ is a Political Statement

The words ‘peak oil’ are a close second to ‘climate change’ when it comes to getting me worked up. For more than a decade, I have been writing articles about peak oil and how it simply isn’t going to happen anytime soon. Despite, being quoted sarcastically in books by left wing environmentalists and vilified in certain quarters, I’m having the last laugh. Even back in 2005, when I worked with Peter Fusaro on the Energy Hedge Fund Center, I was trying to explain why peak oil is nonsense and he and I wrote extensively about it in our book, Energy and Environmental Hedge Funds – The New Investment Paradigm (Wiley, 2006). Today, I posted a Reuters article which essentially says that peak oil is dead, at least for another 10-20 years and that oil demand is forecast to rise. I am a geologist by training and I started my career as a petroleum geologist with BP. I have seen first hand the many rapid advancements and innovations in discovering and extracting crude oil and my argument about peak oil has aways been simple if not politically correct. It is that economics (the rising price of crude over time) and humanity’s
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‘Peak Oil’ is a Political Statement. This article appeared first on CTRM Center.