Daniel Yergin argues peak-oil advocates have been proved wrong.
“There will be oil”, the Wall Street Journal headline reads. The CERA professor is triumphant in his article. “For decades, advocates of ‘peak oil’ have been predicting a crisis in energy supplies. They’ve been wrong at every turn.” He predicts a plateau, beginning around 2050, with as much as 110 mbd produced by 2030. He adds a caveat: this is not a “done deal” because of geopolitics. Strong critiques by ASPO experts follow: by Jean Laharrere in Le Monde, by Kjell Aleklett on his own website, by Euan Mearns on The Oil Drum.