(from CommonDreams.org) ‘We Were Wrong on Peak Oil. There’s Enough to Fry Us All’

We were wrong on peak oil. There’s enough to fry us all A boom in oil production has made a mockery of our predictions. Good news for capitalists – but a disaster for humanity

AN EXCERPT:    The facts have changed, now we must change too. For the past 10 years an unlikely coalition of geologists, oil drillers, bankers, military strategists and environmentalists has been warning that peak oil – the decline of global supplies – is just around the corner. We had some strong reasons for doing so: production had slowed, the price had risen sharply, depletion was widespread and appeared to be escalating. The first of the great resource crunches seemed about to strike….There is enough oil in the ground to deep-fry the lot of us, and no obvious means to prevail upon governments and industry to leave it in the ground. Twenty years of efforts to prevent climate breakdown through moral persuasion have failed, with the collapse of the multilateral process at Rio de Janeiro last month. The world’s most powerful nation is again becoming an oil state, and if the political transformation of its northern neighbour is anything to go by, the results will not be pretty.

‘The great profusion of life in the past – fossilized in the form of flammable carbon – now jeopardizes the great profusion of life in the present.’ (Illustration by Daniel Pudles)

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