Al Gore: we're at or near peak oil
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KING: Gas prices -- we've only got a minute left.
GORE: Yes.
KING: Gas prices going to go down?
GORE: Well, I've seen a number of -- over the last several decades I've seen this happen several times, where they spike and then they do come back down.
But each time they go to a higher plateau. We almost certainly are at or near what they call peak oil, defined as having recovered a majority of the oil reserves at a certain price, affordability range. And so with the new pressure on the consumption side from China and India, if they come back down, they won't stay down long.
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Editorial Notes: UPDATE June 16: Contributor AK writes that on the conference call last Sunday sponsored by move-on, Gore was asked how peak oil and he acknowledged it's happening. Former U.S. Vice President Al Gore was a guest on the Larry King Live talk show on June 13 when he made the comment. The comment appears at the end of the transcript of the show. Gore's remark was pointed out by fafhrd on peakoil-dot-com.
