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Posts from December 0

Peak Nonsense

By <a class="post-author" href="/about#m_lynch">Michael Lynch</a> -- June 26, 2013

“The truth is that, just as so many did in the 1970s, a commodity cycle has been confused with a ‘new paradigm’ and (neo)Malthusian biases have cherry-picked data and made vague pronouncement (“the easy oil is gone”) with little more than some curve-fitting to support their conclusions.”

“We now have an elephant in the room, and its name is peak oil,” states Kjell Aleklett in an interview with James Morgan in ScienceOmega (June 10, 2013). Interviewer James Morgan adds: “Of course, it is possible to argue over the exact point at which global peak oil will arrive, but at some time in the not too distant future, we are going to have deal with this problem.”

And so here we go again on the trial of exhaustion theory, one step removed from the scientism of central planning where decline rates are projected and a social cost of depletion is calculated for an extraction tax.