peak oil – the decline of global supplies – is just around the corner."
As Monbiot writes..."There is enough oil in the ground to deep-fry the lot of us, and no
obvious means to prevail upon governments and industry to leave it in
the ground". Read full article here. However not all see it this way. Richard Heinberg who spoke in Stroud to the District Council and Transition Network has this view - see here. He says: "And so a spurt of new production from “tight” shale deposits now serves
as a pretext to declare victory. The peaksters should have seen it
coming, after all: high oil prices do indeed trigger increases in
reserves and production from lower-quality resources. Indeed, some of
the better analysts did see it coming. I recall Jeremy Gilbert,
the former BP chief petroleum engineer, speaking about the potential of
new production technology at an Association for the Study of Peak Oil (ASPO) conference a couple of years ago."
Update - see also Transition view: http://transitionculture.org/2012/07/04/transition-reflections-on-george-monbiots-announcement-that-we-were-wrong-on-peak-oil/