Countdown to $100 oil (31) – $15 oil? The cornucopians are fighting back

Recently, there has been a quite visible backlash in the media against peak oil theory. If the past few months had seen the sudden emergence of the concept in the mainstream press, the recent fall in oil prices (from a high of $78 to about $62 today in just a few weeks) has brought back the cornucopians in force.



The announcement of a significant find in the deep offshore area of the Gulf of Mexico was hyped (see quotes below); now there appears to be a concerted effort by big industry players, starting with Saudi Arabia and ExxonMobil, to downplay concerns.

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