mission accomplished, CERA
Pulitzer Prize winner suggests world still has plenty of oil
WASHINGTON - Far from being a nearly exhausted resource, the world's oil reserves are three times as large as some popular estimates state, and peak global oil production is still about a quarter-century away, according to a new study by Pulitzer Prize-winning oil historian Daniel Yergin.
The remaining oil resource base is about 3.74 trillion barrels, according to a report released Tuesday by Cambridge Energy Research Associates, which Yergin runs. That is more than three times the 1.2 trillion barrels that "peak-oil" theorists suggest.
The report, titled "Why the Peak Oil Theory Falls Down," challenges an increasingly popular view that the world is about to run out of oil. The Yergin report debunks the so-called Hubbert Peak Oil Theory.
Thanks to tireless editors at the Energy Bulletin for covering the vocal and pointed criticism of the CERA report.
However, Daniel Yergin and company win. Not on points. See the above rendering of the CERA report by a journalist who knows nothing about energy short yet clearly pines for something akin to Yergin's Pulitzer. For those new to the topic, every item highlighted in bold in the above article is factually inaccurate. Most laughably so.
CERA has set up camp in the blighted media landscape right next to the global warming deniers, (lately long of tooth and coughing up blood.) They staked their position. A left-right, a liberal media-fox news, a yin-yang.
Every time Peak Oil shows up now in the mainstream press, we'll get a quote from "Investment Banker" Simmons and "Pulitzer Winner" Yergin.
Fair and Balanced.
Mission accomplished, CERA.
Meanwhile it is an open question whether our polygot civilization has less time to deal with global warming, or the effects of energy depletion. I expect a photo finish.