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robertpaulsen's Journal
Posted by robertpaulsen in Editorials & Other Articles
Wed Nov 23rd 2011, 04:16 PM
Peak oil gets pepper sprayed

By Erik Curren November 22, 2011

The Pepper Spraying Cop has now come for peak oil. It's time for honest experts to occupy the public conversation on energy.

How many Saudi Arabias did you say that was?

It’s hard to keep up these days with claims by oil and gas drillers about how many Saudi Arabias of tar sands oil/shale oil/deepwater oil/hydrofracked gas that North America is now allegedly able to access due to the smarts of petroleum geologists and the tenacity of oilmen.

“Because of better technology, notably breakthroughs in drilling, the US all of a sudden realizes it is sitting on a century’s worth of gas supply,” writes Edward Luce in the Financial Times. “When Mr Obama came to office, the country faced projections of rising natural gas imports from places like Qatar.”

But now, if you believe what the industry says, the picture’s really brightening up:

The same technology has unlocked ever-growing estimates of once inaccessible “tight” oil lurking beneath America’s rocks. In its immediate neighborhood, Alberta’s huge expanse of “tar sands” contains oil reserves that rank Canada second only to Saudi Arabia. In Brazil, recent advances in offshore oil drilling will relegate Venezuela into second place in the region.

Without any real input from Washington, windfalls just keep dropping into America’s lap. Welcome to a new age of plenty.

While this new cornucopia is bad news for climate change — nations are scrambling to get at Arctic oil ironically made accessible by melting ice caps — it’s great news for US energy independence. “A new era of fossil fuel appears to be upon us and nobody saw it coming,” concludes Luce.

more...

http://transitionvoice.com/2011/11/peak-oi... /
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