A Free-Market Energy Blog


Posts from December 0

“Peak Oil Is Dead”: M. A. Adelman Revisited

By Robert Bradley Jr. -- May 20, 2013

“The distinction between renewable and non-renewable resources is tenuous and perhaps in the last analysis untenable.”

– M. A. Adelman, The Economics of Petroleum Supply (Cambridge: The MIT Press, 1993), p. 66.

“The tradition in academic energy economics is to stress the ability to overcome depletion threats.”

– Richard Gordon, The Energy Journal, (Vol. 22: No. 2), 2001, p. 128.

The headline from the May 15th Time article reads: “The IEA Says Peak Oil Is Dead. That’s Bad News for Climate Policy.” Author Bryan Walsh begins:

No one … was really looking forward to a peak-oil world…. Think uncomfortable and violent. Oil is in nearly every modern product we use, and it’s still what gets us from point A to point B—especially if you need to get from A to B in a plane.