Why Kohler is wrong on peak oil

Peak oil does not mean we are running out of oil. It means we have run out of cheap and easy oil. And the negative effects are already being felt.

Alan Kohler in his piece, The Death of Peak Oil (Climate Spectator – February 29), claimed that the boom in US shale oil and gas extraction meant the end of peak oil. In particular his article made the following claims:

1. We should forget declining oil production because there is a new oil boom coming, mainly from US shale formations.

2. The new oil will bring the US to oil self-sufficiency and therefore to a resurgence of the US as an economic superpower.

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