Have We Reached Peak Oil?

• “No”

  

  “For Millennia, People Have Erroneously Thought Resources Were Finite.”

• “Objection”

  

  “Some Resources are Finite: Being Forced to Switch is Not Pleasant.”
  

For Millennia, People Have Erroneously Thought Resources Were Finite.

Diana Furchtgott-Roth

Senior Fellow, Hudson Institute

Expert Verified | See Profile

Recommend (0) Comments (8)

The Romans thought that civilization would come to an end because they would run out of copper.  People have always said we would run out of oil, but known reserves are higher than ever. In 1964, it was predicted that 44-112 million barrels would be produced in the San Joaquin Valley in 2000. In 1982, this estimate rose to 189 million barrels produced in the same year, 2000, in the same valley. The actual amount produced in 2000 was 597 million barrels. As a resource becomes more expensive, people switch to others.

Evidence

Link

EPRINC Briefing On Capitol Hill

Next Argument

"No" Diana Furchtgott-Roth

• For Millennia, People Have Erroneously Thought Resources Were Finite.
  0
• As Oil Prices Rise, Drilling in Difficult Places Becomes Worthwhile.
  0
• We Are Not Fully Exploiting American Resources.
  0

"Yes" Dr Marcel Schoppers

• The Nature of the Problem
  2
• Hubbert's Peak
  4
• Oil Discovery and Production Understood in Gory Detail
  2
• 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

• Inevitable Consequences: The End of Abundance
  3
• For Millennia, People Have Erroneously Thought Resources Were Finite.
  0
• As Oil Prices Rise, Drilling in Difficult Places Becomes Worthwhile.
  0
• We Are Not Fully Exploiting American Resources.
  0

Have We Reached Peak Oil?

• Yes
• No

View Results