Why 'Peak Oil Doomsters' Are Wrong

Ronald Bailey believes free markets will address the world's oil supply problem.

1 minute read

May 2, 2006, 10:00 AM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech


"The good news is that the peak oil doomsters are probably wrong that world oil production is about to decline forever. Most analysts believe that world petroleum supplies will meet projected demand at reasonable prices for at least another generation. The bad news is that much of the world’s oil reserves are in the custody of unstable and sometimes hostile regimes. But the oil producing nations would be the ultimate losers if they provoked an “oil crisis,” since that would spur industrialized countries to cut back on imports and develop alternative energy technologies."

Monday, May 1, 2006 in Reason

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