Jeremy Leggett, reporting at Triple Crunch Log:
“We are betting our entire national economic life on the hope — indeed the expectation — that the fracking boom will continue until well into the 2020s, and that, at a rate and cost we desire, significant amounts of ‘yet to be discovered’ oil will somehow be found to meet the demand. “If any of that proves incorrect, we have no plan, no alternative, and have given no thought to how we would respond in such a case.”
The speaker is national-security expert Lieutenant Colonel Daniel Davis, a veteran of four tours of duty with the US Army in Iraq and Afghanistan…
In my book The Energy of Nations, I describe how military think-tanks have tended to side with those, like Lewis and Hughes, who distrust the cornucopian narrative of the oil incumbency. One 2008 study, by the German army, puts it thus:
“Psychological barriers cause indisputable facts to be blanked out and lead to almost instinctively refusing to look into this difficult subject in detail. Peak oil, however, is unavoidable.”
- Transatlantic Energy Security Dialogue: Agenda, Participants, Part One discussion edited transcript
- The Three Witches: Decline rates, soaring capex, and falling exports. Presentation by Mark Lewis.
- The “Shale Revolution”: Myths and Realities. Presentation by David Hughes.