Listen to the rocks
Economists tend to argue for a later oil production peak and tend to be blind to the geological facts.
Budget day in the UK: a good day to think about economics and some of the more strident criticisms in the comments on my blog to date.
One reader calls on economics to explain why the peak oil argument is wrong. He is not alone among economists in believing that there are huge amounts of oil yet to be extracted. In fact, the whole debate can be crudely characterised as one dominated by economists on the side of a late peak in production and geologists on the early side.
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