Energy consultant Michael Lynch argues that there are upwards of 10 trillion barrels of oil out there, as opposed to the 2 trillion that peak oil proponents recognize.
Says Lynch, "A century ago, only 10 percent of it was considered recoverable, but improvements in technology should allow us to recover some 35 percent - another 2.5 trillion barrels - in an economically viable way. And this doesn't even include such potential sources as tar sands, which in time we may be able to efficiently tap."
Lynch also claims that new sources in Latin America, Africa and the Dakotas will ensure that prices are kept low and the U.S. is not beholden to the Middle East for supply.
"Like many Malthusian beliefs, peak oil theory has been promoted by a motivated group of scientists and laymen who base their conclusions on poor analyses of data and misinterpretations of technical material."
Thanks to W.Davis
FULL STORY: ‘Peak Oil’ Is a Waste of Energy
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