[Marxism] The Death of Peak Oil By James Hamiliton on The Oil Drum

Louis Proyect lnp3 at panix.com
Wed Apr 17 23:12:25 MDT 2013

On 4/18/13 12:45 AM, DW wrote:
> The overall peak oilists have been generally wrong, though correct I think
> that the curve will catch up. The peak oilers tend to be into static
> production figures and never thought, as no one did, that places tike the
> Bekkan Oil shield in the Dakotas would ever amount to anything. They were
> wrong. So the Hubbards Curve is now about 30 years out of date...but
> doesn't mean that the peak in that curve isn't going to catch us. China
> will assure that without a doubt.

David, peak oil theory is not based on the *absolute* disappearance of 
oil but on the increasing reliance on risky extraction both in 
geopolitical terms and in environmental terms. The water catching fire 
as it comes out of the faucets in the documentary "Gasland" and the BP 
spill in the Gulf of Mexico confirm peak oil theory, even if they are 
producing oceans of oil. Come to think of it, at least in terms of BP, 
that is exactly what happened.

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