For the Oil Companies, Public Rhetoric = Big Profits

Peak oil will eventually happen, but it is perhaps 30 to 50 years away. But even then, we will not run out of oil. We have centuries left of commercial production, and the transition to other fuels or enabling technologies, such as nuclear, coal, and especially natural gas, may actually prevent the appearance of peak oil, at least in the bell-shaped curve implied by the theory. Saudi Arabia and Russia, with proper investment and management, can increase their current production by 50 percent, at least. Indeed, since the publication of a book claiming the country was in its oil twilight, Saudi Arabia has increased its production by 25 percent.

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