Earth Island Institute

Ever careful to echo conventional wisdom, a recent New York Times story about increasing oil prices was cautious when it came to mentioning Peak Oil. After noting that crude oil has hit $116/barrel and that global demand is showing no sign of slumping, reporter Jad Mouawad confidently proclaimed that “petroleum ... will remain the top energy source ... and that is not likely to change much in the next 30 years.
Mouawad went on:
“A small band of skeptics view today’s record prices as evidence that oil supplies have peaked — that half the globe’s oil supply has already been used up. But most experts believe that there are still enough oil reserves, both discovered and undiscovered, to last at least through the middle of the century.”
First of all, this statement betrays a poor understanding of peak oil. Yes, we may have enough oil to last through the middle of the century, AND that means we may be quickly approaching peak oil. The peak isn’t the point when petroleum runs out, but when demand begins to exceed supply as production starts to drop off.
More disturbing is the writer’s lofty condescension. The “small band of skeptics,” according to a Reuters story that appeared just a day later, includes, well, most of the world.
A global poll conducted by WorldPublicOpinion.org found that on average, 70 percent of respondents in 15 countries and the Palestinian territories said they thought oil supplies had peaked.
Reuters reported:
“In the United States, the world’s biggest oil consumer and among the biggest emitters of climate-warming pollution from fossil fuel use, 76 percent of respondents said oil is running out, but most believed the US government mistakenly assumes there would be enough to keep oil a main source of fuel.
“Americans perceive that the government is not facing reality,” said Steven Kull, who directed the poll.
The US government ‘not facing reality’ is about par for the course. What’s especially disappointing the country’s newspaper of record is also failing to face facts.
A quick glimpse at prices at the gasoline pump should tell any reasonably aware observer that gas costs are skyrocketing. But the Times, it seems, would rather trust in the opinion of experts who are very likely to be proven wrong soon.

 

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