IDA study on Peak Oil debate (August 2008) (review)

The study’s executive summary ends with these two sentences: “We conclude from these reviews that the most alarmist of the peak-oil claims are likely false. Still, we see some convincing reasons to think that global oil production could peak within 20 years, with demand outstripping production indefinitely.”

Peak oil = peak demand?

People concerned with the economic problems attending peak oil—myself included—have labored under the mistaken assumption that winning an argument with CERA about the world’s upstream exploration & production prospects matters. I don’t think it matters at all, at least not as far as CERA and the Powers That Be are concerned. If CERA is making money and telling a good story, and they are, they are winning as far as IHS is concerned. The peak demand story maintains the status quo, so everybody in our Nation’s Capital is happy too. Win-win.