Kevin G. Hall McClatchy Newspapers- WASHINGTON – [1]Far from being a nearly exhausted resource, the world’s oil reserves are three times bigger than what some popular estimates state, and peak global oil production is still about a quarter-century away, according to a new study by Pulitzer Prize-winning oil historian Daniel Yergin.
The remaining oil resource base is about 3.74 trillion barrels, according to a report released Tuesday by Cambridge Energy Research Associates, which Yergin runs. That’s more than three times the 1.2 trillion barrels that “peak-oil” theorists suggest.
…
“This is really the fifth time we’ve `run out of oil,'” Yergin said in a teleconference with journalists on Tuesday. He recalled past predictions dating back to 1880 of an end to oil or gasoline production.
Yergin’s views carry weight because he won the Pulitzer for his 1991 book “The Prize,” an exhaustive history of oil economics.
And there it is in a nutshell, gang. The real bottom line here is that those advocating this “Peak Oil” nonsense, people like Al Gore and his roving band of troglodytes, are full of thick gooey brown stuff… and I don’t mean oil.