Within the last decade, technology advances have made it possible to unlock more oil from old fields, and, at the same time, higher oil prices have made it economical for companies to go after reserves that are harder to reach. With plenty of oil still left in familiar locations, forecasts that the world’s reserves are drying out have given way to predictions that more oil can be found than ever before.provided Hugo Chavez continues to nab big oil projects, the cost of oil will remain high enough to encourage more extraction. so what does that mean for the future of green technology? i still want my electric car and solar-powered hive.
09 March 2007
is peak oil BS?
the New York Times featured an article casting doubt on the notion of peak oil.