Greg Pinelli

The 'Peak Oil' Myth: New Oil Is Plentiful

Mr. Schwarz should definitely hook up with the other resource ostrich, Wm. "Oil is puddling up everywhere" Engdahl. The ignorance of these two would be almost hysterical if it weren't so pathetic. The "discoveries" that Schwarz points to are either incredibly expensive to develop and/or have been downszed significantly in recent months. Either he's unaware of the literature or simply doesn't keep up...perhaps both.
Peak oil (which is really about Peak production) is anything but a myth..In fact..it's a current reality and part of the reason we haven't had output beyond 2006s 87 million barrels a day. It's hardly a money making scam...now, if Schwarz wants to discuss disasters and scams we can go into oil sands and shale. Oil sands will NEVER contribute more than a few million barrels of oil per day..it's akin to setting off a nuclear device just to mine (yes MINE..not DRILL) and process this extremely heavy, sulfur ridden mess. Just ask the people in Alberta how thrilled they are with the stuff...and what processing has done to their water supply not to mention the landscape.
Shale is plentiful..and always will be! Largely because developing it is a huge economic pipedream. Mr. Schwarz is a lightweight..in the same way Engdahl (a former Middle East oil state employee) is an unmitigated shill...another Alpha nutburger crawls out of his Mom's basement!!