Peak Oil

…has been delayed again:

It’s not clear yet how much oil is recoverable, but even at the low end the field would include as much shale oil as America’s Bakken formation, which has helped transform U.S. energy production and the global energy landscape. If higher estimates prove more accurate, Australia could join the U.S. as one of the world’s top oil producers.

Good news for the world. Bad news for OPEC (and those who want to fund Islamism). And for global-warming hysterics.

2 thoughts on “Peak Oil”

  1. Cool. Every since that, now deceased, US geologist discovered you could get oil from shale deposits directly in that way the amount of nations with shale deposits where such processes are applicable keep increasing.

    Still someone needs to discover something more energetically efficient and cheaper for transportation use than these new expensive hard to refine types of oil. I still think it is going to be electric vehicles. A large part of electric generation capacity lays unused most of the day and regenerative breaking is just too good. No urban pollution is also a plus.

  2. Actually, shale gas makes greenhouse-effect worries more plausible. As long as fossil fuels looked scarce, it looked like there simply weren’t enough of them to create a major greenhouse problem. Now, it looks like there are enough.

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