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« Why Hillary Is Losing | Main | How Bad Is Huckabee? »

So Much For The "Consensus"

"Don't fight, adapt.

Also, is oil production really peaking? Not in Brazil:

Wait a minute. Wasn't oil supposed to be running out? Wasn't all the oil out there already discovered? If this new "Sugar Loaf" field in Brazil pans out, the world oil picture won't be the same.

Brazil will become an even bigger exporter in a decade or so than projected and could put pressure on the club of petrotyrants that now has a monopoly on resources. Best of all, it throws doomsday assumptions about oil "peaking" on its head.

The world produces about 85 million barrels of oil a day, according to the International Energy Agency. Global energy demand is expected to rise 55% from 2005-2030. Peak oil theories abound that new discoveries are not keeping up with oil usage. But it's significant that the new demand also is fostering big new discoveries, largely from the very countries where demand is growing most.

It's gloomy times for gloom mongers.

Posted by Rand Simberg at December 16, 2007 09:54 AM
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