Hmm, maybe we can stretch the timeline of the blood of industrial economies a few more years, or even a few more decades.
The fact that ever-greater percentages of oil reserves appear to be recoverable doesn't mean that we should stop looking at hybrid cars, all-electric cars, etc., of course. They're part of why oil demand in the West might well have peaked.
But, this story misses some issues. First, will Iraq be stable enough to pump 6 million barrels of oil a day? To deliver to other countries all the oil it pumps, minus domestic use, without sabotage?
It also acts as if people like King Hubbert didn't factor in the likelihood of technological advances into Peak Oil predictions. And, by just quoting somebody from CERA, and not anybody on the Peak Oil side, the story came off as somewhat one-sided. And hagiographic.
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