Energy Advisory Firm CERA Sees No Oil-Supply Peak by 2020

[banana republican]

http://online.wsj.com/article/SB113398915661316537.html?mod=DEN

Cambridge Energy Research Associates said it doesn't see a peak in world oil supply before 2020 and that an increase in unconventional oils, including condensate and natural gas liquids, would help boost capacity by up to 25% in the next 10 years.

"We see no evidence to suggest a peak before 2020, nor do we see a transparent and technically sound analysis from another source that justifies belief in an imminent peak," said Robert Esser, CERA's director of oil and gas resources, at a congressional hearing.

The analysis by CERA, an energy advisory firm, runs counter to the hotly debated theory that the world's oil supplies may have hit a peak and are about to start running out.

[BlueEyedSon]

1. Too bad, all that extra CO2 will totally f*ck up the climate

[DoYouEverWonder]

2. That's the real problem

which is the main reason we need to switch to cleaner alternatives, including industrial hemp.

[BlueEyedSon]

3. Or conservation, or solar, or wind, or algal biofuels

[DoYouEverWonder]

4. All of the above

the only reason we aren't is because of BushCo and the oil companies.

[phantom power]

5. Amusing. Their own argument proves them wrong.

Part of the peak oil scenario is that expensive "alternative oils" have to be used.

[BlueEyedSon]

6. 8^)

[Ezlivin]

7. And Creationists believe the Earth is only 6,000 years old

You can always find one nutcase to say "it ain't so."

This administration has always cherry-picked its intelligence. Why should they treat the looming threat of Peak Oil any differently?

[Strelnikov_]

8. Same Outfit That Grossly Overestimated North American Natural Gas

reserves in the 90's that has led to the current overuse.

Guess they are trying to 'Yergin' oil reserves now.

[robbibaba]

9. Just go back to your shopping folks...

nothing to see over here. It's all under control...

[hatrack]

10. They also said in 2001 that all was well with natural gas

And that we could use just as much as we wanted.

So much for CERA's projections.