http://www.nationalpost.com/opinion/columnists/story.html?id=2b55ff83-2764-482e-89bb-1e6c4eede3f3$this->bbcode_second_pass_quote('', 'O')il and the minds of men
Peter Foster, Financial Post
Published: Saturday, September 05, 2009
The great petroleum geologist Wallace Pratt famously said that "Oil is found in the minds of men." Discoveries depend on visionary theory, technical innovation and commitment to risky drilling. Plus luck. Peak Oil theory, by contrast -which asserts that global oil production has, or soon will, peak, and that this has powerful policy implications -- is found in the limitations of the minds of men. It is less geological theory than unevolved intellectual shortcoming, although it certainly has its political uses.
The fruits of the "greatest resource," as economist Julian Simon dubbed the human mind, appeared yet again this week with the announcement by BP that it had found a "giant" field at unprecedented depth in the Gulf of Mexico, an area that twenty years ago was regarded as played out. By contrast, the limitations and conceits that characterize Peak Oil were nicely summed up by a report on BP's find in the leftist British newspaper, The Guardian.
According to that report, BP's Tiber well, and another recent huge find in Iran, "have encouraged skeptics of theories which say that peak production has been reached, or soon will be, to hail a new golden age of exploration and supply."
Note how the use of the term "skeptics" suggests that Peak Oil is the mainstream view, which it is not.
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