[extropy-chat] Debate on Peak Oil

[Hal Finney]

Dustin Wish writes:
> I had read an article about new exploration in the Gulf of Mexico using new
> technology, which they said shows a HUGE oil reserve almost twice the amount
> of oil as has been used up till today. That would be a turn around from the
> cheap oil economic times we have lived in.

On the other hand, this news from a Peak Oil site is discouraging for
Gulf of Mexico oil development: http://www.energybulletin.net/5438.html

"According to a new study published on Sunday by state oil monopoly
Petroleos Mexicanos, the potential for oil exploration in the Gulf of
Mexico has been greatly overestimated.

"Petroleos Mexicanos, or Pemex, revealed that terrain in waters deeper
than 3,000 meters in the Gulf of Mexico an area known as the Abyssal
Plain were 'not suitable for oil exploration.' The statement represents
a serious setback for future drilling in the area, and, according to
petroleum analysts, jeopardizes any possible collaborations with foreign
investors.
...
"Pemex had initially earmarked a possible 54 billion barrels of oil
that could be drilled from the area. With that figure now cut in half,
Pérez Cruz says, exploration becomes economically unviable"

This is why I say that Peak Oil sites provide biased news.  They search
the press for all the bad things, but won't reprint good news (that
is, news which goes against their theories).  Unfortunately I have not
found a site which focuses on good news on this topic, so it is hard to
acquire a balanced picture.  I did order the book by Huber but it would
be nice to see a blog or some other source that discusses topics on a
day to day basis.  Of course an unbiased site would be best, but I've
given up hope in that regard!  At this point I just try to find a mix
of information sources.

Hal