A few years ago I posted some comments on the global oil situation. The gist of the comments was: We are at or past the peak of global oil production; therefore we need to reduce our need for oil somehow. Otherwise the market will reduce demand for us by pricing oil out of reach of many/most of us. That was in the mid-2000s. There’s a similar set of comments I made in the mid-1990s.
Now there’s a new review of the situation titled: Oil’s tipping point has passed. Authors James Murray and David King, in the 26 January 2012 edition of Nature [481, 433–435], maintain that: “the economic pain of a flattening supply [of oil] will trump the environment as a reason to curb the use of fossil fuels”. Their argument goes along the line of the Hubbert peak oil theory that the major oil companies have been trying to downplay for the past several years. Continue reading Reviewing the situation . . . for oil