by basil_hayden » Fri 28 Oct 2011, 19:09:01
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This all has nothing to do with the "timing" of peak oil. It has to do with the whole lot of peak oil soothsayers becoming something of a freak show.
Again that's because the media
is a freak show. Matt Simmons of all people got the front seat right as he was declining into hysteria/alcoholism/dementia, whatever it was. I'll never forget watching his interviews in 2008 right when the issue peaked, thinking "we're all a bunch of loons now, forever."
Attempting to apply Hubbert's model globally was a mistake from the very beginning. It worked regionally while there were ample sweet light supplies available around the world.
The global "peak" was never going to happen that way. As soon as light oil began to "peak" globally, it was inevitable that we would turn to heavier reserves in a big way.
Don't take me wrong, it's
still an ugly looking future. As sweet supplies continue their inexorable decline, the way we use oil will continue to change, and the price will continue to increase.