Complacency Has Many Forms

Heading Out writes: I don’t wish to ruin the rest of the summer, there seems to be some assumption in the minds of those writing about this topic that recognition of the problem will bring with it some collective action that will gently ease us into some form of transition zone.

To do so is to ignore the realities that have got the industry to where it is today. Energy companies exist to make their stockholders money. They do this by finding the best and fastest way to generate the most revenue in the short term that they generally can. If this means that they ruin a deposit for additional production after 5 or so years, that is not the immediate issue, and few CEO’s have been recognized for delaying the company profits.

This remains the bigger worry about long term stocks of oil…

More after the jump at The Oil Drum.