Thursday, July 08, 2010

Peak oil panic is still bunk

From the Peak Oil Debunked site:

I first began writing on peak oil 6 years ago, in the summer of 2004. Matt Savinar was predicting imminent TEOTWAWKI, and telling folks to run for the hills. Now, 6 years later, I can go out on the street, and nothing whatsoever has changed since 2004. The streets are still clogged with cars going on mindless journeys. People are sleeping in their cars with the engine running to power the air-conditioning. Oil is at $75 and it's not going anywhere. Food prices and availability are completely normal. Plastic Hello Kitty paraphernalia is as plentiful and cheap as ever. Peak oil continues to be a ridiculously over-hyped non-event, just like I always predicted. I thumb my nose at it with impunity. LOL.

The Oil Drum doesn't even bother with new posts anymore. Just recycled versions of the same old "oil spill" post, flopping over and over like a flat tire, wump wump wump. Quite a comedown from the heady days of A Nosedive Toward the Desert in 2007. Yup, peak oil is yesterday's party. The IEA is yawning and predicting oversupply of oil until 2015. Lucky us. Five more years of "topics for discussion" from Gail the Actuary Source. Matt Simmons' ongoing nervous breakdown continues to blossom in fascinating ways. Last week he predicted a mass evacuation of gulf states: "We're going to have to evacuate the gulf states," said Matt Simmons, founder of Simmons and Co., an oil investment firm and, since the April 20 blowout, the unflagging source of end-of-the-world predictions. "Can you imagine evacuating 20 million people?...This story is 80 times worse than I thought." Yah, that's some funny stuff. I think Matt Simmons is about 80 times more mentally unstable than I thought...