I summarized my attitudes to Peak Oil in an (anonymous) contribution to the Azimuth discussion a couple of years ago, reproduced below. It seems right [except the dubious comment on shale oil was way off]. World economic growth continues to be constrained by the fact that we can only slowly change infrastructure. Fossil fuel use continues to grow as we go to gas and back to coal for many applications. The world peak is different to the peaks we’ve seen in individual countries and fields, because the price can now rise. This should mean that the tail is more stretched out as otherwise uneconomic fields come into play (like tar sands, very heavy oil, coal liquefaction, abandoned fields, and maybe even oil shales). Also it means that there is a lot of pressure to get off oil as much as possible. Even the […]