August 22, 2005
"Peaking" at a Problem

Instapundit linked up the latest attempt at de-bunking the most recent "peak oil" pap:

"Peak Oil:" Welcome to the media's new version of shark attacks

The cover story of the New York Times Sunday Magazine written by Peter Maass is about "Peak Oil." The idea behind "peak oil" is that the world has been on a path of increasing oil production for many years, and now we are about to peak and go into a situation where there are dwindling reserves, leading to triple-digit prices for a barrel of oil, an unparalleled worldwide depression, and as one web page puts it, "Civilization as we know it is coming to an end soon."

One might think that doomsday proponents would be chastened by the long history of people of their ilk being wrong: Nostradamus, Malthus, Paul Ehrlich, etc. Clearly they are not.

The parallels between this article and last year's Chicken Little and the Oil Crisis, in which someone went to enormous lengths attempting to convince us all we were dullards for doubting the scheme, are striking and not surprising. The biggest difference is this guy is an actual award-winning economist and I'm not. Maybe that'll finally convince said chicken littles to start listening?

Nah, I didn't think so either.

Posted by scott at August 22, 2005 11:51 AM

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