Humint Events Online: Who Is Right About Peak Oil?

Thursday, March 17, 2005

Who Is Right About Peak Oil?

Two of the biggest opponents regarding the Peak Oil concept are Mike Ruppert (pro) and Dave McGowan (con). Which one is right?

Answer: they both are.

Here's what I have decided: there IS such a thing as Peak Oil. So Ruppert is right about the Peaking concept (or more properly, King Hubbard is right and Ruppert is right to buy into the concept).

However, being over the "peak" DOES NOT mean oil will start to run out! This is where McGowan is right. There is enough oil in the world to last a looong time at the current rate of consumption.

But what will run out, when we are over the "peak", is CHEAP oil.

That is the nub of it. Peak oil should be called more properly Peak Cheap Oil.

More expensive oil will wreak havoc on the world's economies, but it won't mean millions of people will have to die in the near future. Ruppert is way off base there (scarily off base, actually).

Almost certainly, Peak Cheap Oil IS why the US went after Iraq and will go after Iran next. The US needs to secure cheap oil for themselves and their western allies.

So Peak Oil is partially a reality and partially an oil company scam.

Ruppert and McGowan are both right, to some extent.


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