Have We Reached Peak Oil?

• “No”

  

  “As Oil Prices Rise, Drilling in Difficult Places Becomes Worthwhile.”

• “Objection”

  

  “Once Daily Supply Shrinks Below Daily Demand, Reserves are Irrelevant”
  

As Oil Prices Rise, Drilling in Difficult Places Becomes Worthwhile.

Diana Furchtgott-Roth

Senior Fellow, Hudson Institute

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Recommend (1) Comments (3)

With prices as of this writing at $126 per barrel, drilling in tar sands and shale becomes worthwhile. New, environmentally-sound drilling techniques are invented in order to get at oil in out-of-the way places. We know that we have large reserves of oil and gas off the east and west coasts of the United States, in the Gulf of Mexico, and in Alaska. When Americans get sufficiently tired of high prices they will allow oil companies to get those resources out of the ground.

Next Argument

"No" Diana Furchtgott-Roth

• For Millennia, People Have Erroneously Thought Resources Were Finite.
  1
• As Oil Prices Rise, Drilling in Difficult Places Becomes Worthwhile.
  1
• We Are Not Fully Exploiting American Resources.
  1

"Yes" Dr Marcel Schoppers

• The Nature of the Problem
  2
• Hubbert's Peak
  4
• Oil Discovery and Production Understood in Gory Detail
  3
• Inevitable Consequences: The End of Abundance
  3
• Alternatives and Infrastructure Costs
  2
• Oil is the First Wave of an Even Bigger Problem
  1
• EVERYTHING Depends On When And How Fast
  2

Most Objections

• For Millennia, People Have Erroneously Thought Resources Were Finite.
  1
• As Oil Prices Rise, Drilling in Difficult Places Becomes Worthwhile.
  1
• We Are Not Fully Exploiting American Resources.
  1
• Inevitable Consequences: The End of Abundance
  3

Have We Reached Peak Oil?

• Yes
• No

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