Monday, September 29, 2008

"May you live in interesting times" - pt. 2

I've been following the Peak Oil theory for a few years now. This very interesting article on Matt Simmons, whose 2005 book "Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy", helped bring attention to the issue:

An excerpt from the article:

He found it in the form of hundreds of technical papers submitted by Saudi oil geologists to the Society of Petroleum Engineers over the past 50 years. Simmons spent the month of August 2003 sitting on his porch in Maine and grinding his way through the minutiae of technical accounts of, for instance, reservoir pressure and water-cut percentages, trying to piece together the challenges that the Saudi geologists had encountered in managing their precious oilfields. In the end, his conclusion was clear. "I finished reading the last paper on a Sunday afternoon," says Simmons, "and I sat back and I thought, Holy crap, this is unbelievable. I've just discovered the biggest energy illusion ever in the world. We're in big trouble. I'm going to write a book."

(This is a two page article.)

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