Personally, I have never believed in the “Peak Oil” theory. Why? Because over my career, just when it seems the limits of the resource appear to have been reached, the industry time and again has developed new technologies to break through yet another seemingly insurmountable barrier and open up new opportunities.
The current shale gas revolution is a prime example. Six years ago — 2005 — the talk throughout the industry was that US gas supplies were in inevitable decline, and significant quantities of imported LNG would be necessary to meet the country’s ongoing needs. Now, as a result of technological breakthroughs in the development of shale gas resources US gas supplies have reached a level where the talk throughout the industry is about US gas supply exports.
The post at the following link by Martin Lamonica, a senior writer for CNET’s Green Tech blog, helps to make the point, and indeed suggests that “Fossil fuels may be out-innovating green tech.” The post — and the links included in it — are worth the read.
Look out: Fossil fuels may be out-innovating green tech | Green Tech – CNET News, CNET (Oct. 29, 2011).