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February 7, 2012

“Everything You Know About Peak Oils Wrong”

The “Opening Remarks” of the January 30 – February 5, 2012 edition of Bloomberg Business week raises many conflicting issues.  To give you a glimpse of why we are NOT running out of resources are the following estimated total proven oil rserves: in 1990 the estimate was 1.0 trillion barrels, in 2000 the estimate was 1.3 trillion barrels and in 2010 it was 1.5 trillion barrels.  The statistics for other materials are similar.  
Numerous reasons are given for this situation.  One reason is that industries use less of mineral resources than in the past.  New discoveries and new technologies that make  more of the resources available are other reasons.  “…the amount of energy the planet needs to generate the same amount of wealth is declining.”
“That evolution may not be happening fast enough to stave off climate change, but it suggests the possibility that we can keep improving global living standards even while reining in our collective impact on the global environment.”  
The article did not address why the news media seems to stress how fast we are running out of these resources when the facts suggest it is not an issue.  Nor does the article indicate why the media seem to only highlight the conflict over the reason(s) for climate change rather than the need to consider it in setting policies and modifying operations to consider climate change.   

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