False Summit – Peak Oil retreats again (and this is bad news for us all)

The Guardian, George Monbiot 2 July 2012.

We were wrong about peak oil: there’s enough in the ground to deep-fry the planet.

The facts have changed, now we must change too. For the past ten years an unlikely coalition of geologists, oil drillers, bankers, military strategists and environmentalists has been warning that peak oil – the decline of global supplies – is just around the corner. We had some strong reasons for doing so: production had slowed, the price had risen sharply, depletion was widespread and appeared to be escalating. The first of the great resource crunches seemed about to strike…