“The truth is that, just as so many did in the 1970s, a commodity cycle has been confused with a ‘new paradigm’ and (neo)Malthusian biases have cherry-picked data and made vague pronouncement (“the easy oil is gone”) with little more than some curve-fitting to support their conclusions.”

“We now have an elephant in the room, and its name is peak oil,” states Kjell Aleklett in an interview with James Morgan in ScienceOmega (June 10, 2013). Interviewer James Morgan adds: “Of course, it is possible to argue over the exact point at which global peak oil will arrive, but at some time in the not too distant future, we are going to have deal with this problem.”

And so here we go again on the trial of exhaustion theory, one step removed from the scientism of central planning where decline rates are projected and a social cost of depletion is calculated for an extraction tax.…

“It’s not unlawful to run an ad hominem presidency. It’s merely shameful. The great rhetorical specialty of this president has been his unrelenting attribution of bad faith to those who disagree with him. He acts on principle; they from the basest of instincts.”

– Charles Krauthammer, “There’s a Fly in My Soup,” Washington Post, May 23, 2013.

The alarmist/statist side of the energy/environmental debate is losing intellectually and now politically. The agenda of inferior energies simply cannot stand up to a combination of analytic failure, government failure, and real-world realities. The oil and gas boom … the cessation of global warming; improving air and water quality … alternative energy busts ….

And as the alarmists have become ever more argumentative and shrill, even (former) allies and sympathizers are seeing a quasi-religious, nonintellectual, even ugly aspect to the Climate Progress view of the world.…

“The distinction between renewable and non-renewable resources is tenuous and perhaps in the last analysis untenable.”

– M. A. Adelman, The Economics of Petroleum Supply (Cambridge: The MIT Press, 1993), p. 66.

“The tradition in academic energy economics is to stress the ability to overcome depletion threats.”

– Richard Gordon, The Energy Journal, (Vol. 22: No. 2), 2001, p. 128.

The headline from the May 15th Time article reads: “The IEA Says Peak Oil Is Dead. That’s Bad News for Climate Policy.” Author Bryan Walsh begins:

No one … was really looking forward to a peak-oil world…. Think uncomfortable and violent. Oil is in nearly every modern product we use, and it’s still what gets us from point A to point B—especially if you need to get from A to B in a plane.

“The Permian Basin is a story about combining the various talents of independents, majors, and service companies in using advancing technologies to sustain the lifespan of existing fields, to tap into zones that were previously uneconomic or inaccessible, and to increase the Permian’s proven reserves in a remarkable fashion.”

The Permian region, in western Texas and extending into southeastern New Mexico, has been one of North America’s major oil and natural gas producing regions for nearly a century. What makes the Permian stand out, besides its size, is its huge diversity. Rather than a single play, it is a collection of regional conventional and unconventional plays, producing from a variety of geological formations covering a wide area in more than a dozen productive formations.

Permian wells produce in depths ranging from a few hundred feet to tens of thousands of feet.…