Jim Letourneau's Blog

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Peak Oil and the IEA

The Economist updates the never ending debate on when Peak Oil will arrive with new information from the International Energy Administration (IEA).

...the first half of 2009 saw 10 billion barrels of new discoveries, an annual rate higher than any year since 2000. The pessimists retort that recent discoveries are still not enough.

The IEA puts a date on peak oil production

Resource plays will become increasingly important as will the technologies used to exploit them. It will be interesting to see how our energy mix evolves over the next few decades. Investor's who guess correctly could be in for postal code changing profits.

As an aside, I'm really curious as to what editorial policies led to using a photo of a guy in chest waders holding a gunky tar coated stick.