The main reason why Peak Oil theorists always turn out to be wrong is that they by and large appear to be unable to grasp the huge role advancing technology plays in allowing the industry to discover new oil resources previously unknown, to access known resources that were previously thought to be unexploitable, and to extract an ever-increasing percentage of oil long known to be in place via secondary and tertiary recovery techniques.
well said....and that applies across the board to all commodities, as data on supply limits is conveyed via the price....voila....a replacement is found, or a new way to get the commodity is found...something happens, and the crisis ends.
Peak Oil also ignored the fact that, although oil is lighter than the surrounding liquids, and rises, it is found up to five miles down. That’s well below any fossils ever laid down. This strongly implies that oil is produced, not be fossils, but by something else. The hot biosphere has been proposed as an ecology living deep in the Earth’s crusts. If that’s so, then the supply of oil will last as long as the Earth does.
Bring back the 426 Hemi! Yeah!
Bingo.
Peak Oil Theory will never, Never, NEVER die. Just like socialism and AGW Theory will never die. Even though the fundamental concepts are flawed, they appeal to the mindset of someone who already has their mind made up regardless of the facts involved.
Because it caters to the mindsets “Nobody should have more than anyone else, socialism is fairest way to reach equality” and “Fossil fuels are bad, there is a limited amount in the ground, so we will use it all up and run out soon” cater to people who put beliefs before facts.
Sigh. They have been preaching socialism a lot longer than Peak Oil, but it is the same mindset.