Why Peak-Oil Predictions Haven’t Come True
By Russell Gold
Have we beaten “peak oil”?
U.S. oil production did peak in the 1970s and sank for decades after, exactly as the theory predicted. But then it did something the theory didn’t predict: It started rising again in 2009, and hasn’t stopped, thanks to a leap forward in oil-field technology.
To the peak-oil adherents, this is just a respite, and decline is inevitable. But a growing tide of oil-industry experts argue that…Read Full Article