As is the case with much of what gets published in The New York Times, some of the information in the article is true. Yet, in a not-so-subtle manner, the Times article appears to diminish the credibility of the Peak Oil argument.
Published on 6 Mar 2007 by Whiskey & Gunpowder / Energy Bulletin. Archived on 7 Mar 2007.
by Byron W. King
On March 5, 2007, The New York Times published an article entitled "Oil Innovations Pump New Life Into Old Wells," by Times correspondent Jad Mouawad [Also at EB]. The title of the article referred to recent increases in oil extraction from older oil fields, noting:
Within the last decade, technology advances have made it possible to unlock more oil from old fields, and, at the same time, higher oil prices have made it economical for companies to go after reserves that are harder to reach. With plenty of oil still left in familiar locations, forecasts that the world's reserves are drying out have given way to predictions that more oil can be found than ever before.
As is the case with much of what gets published in The New York Times, some of the information in the article is true. But then again, to the well-trained and highly polished Peak Oil mind, the article has a lot of disinformation in it about what is the long-term state of the oil patch. In a not-so-subtle manner, the Times article appears to diminish the credibility of the Peak Oil argument.
Specifically, the Times article focuses on allaying any Manhattanite fears of future scarcity of conventional oil by suggesting that "new technology" will locate and extract immense volumes of oil with which mankind will, to all intents and purposes, power its way into a brighter future. It is as if we can now all kick back, pop a beer, wipe the sweat from our collective brow, and say, "Whew, we dodged that Peak Oil bullet."
Oh yeah? Not so fast, pilgrims. Let's take another look at this "new technology" subject matter. And allow me to amplify some of the substance of what the Times is attempting to relate.
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