Gas prices set records, soon to reach new highs
Mainstream media outlets throughout the country are now reporting on record-breaking gas prices, the highest ever for this time of the year. Also making the rounds is the commonly cited prediction by former Shell CEO John Hofmeisterthat there is a better than 50 percent chance that gas prices will reach $5 a gallon by this summer in the U.S. This is in spite of the fact that U.S. oil production is up and oil consumption down, since 2008. What the media isn’t reporting on is the rest of what Hofmeister said in a recent peak oil themed debate he had with Tad Patzek on Feb. 14.
February 25, 2012
A new oil boom?
A flurry of new mainstream media articles telling people not to worry about Peak Oil and hydrocarbon depletion have begun appearing on financial sites like Bloomberg, Forbes or The Wall Street Journal. I though it would be worthwhile to analyze some of their arguments. At least some media outlets are willing to even discuss peak oil at all—most remain completely silent.
February 9, 2012