The Party's Over...

[halsaxby]

Chevron took out a full page ad on the 1st page of Newsweek, where they confirmed that Peak Oil is near or even here. They gave a link: willyoujoinus which provides even scarier, footnoted, information about projected capacity and demand.

This is the first time, that I am aware of, that an oil company hasn't adamantly denied that the world's production capacity has peaked. In fact, the Saudi government was in the news last month assuring the world that they still have excess capacity.

Chevron is in the business and they have the resources to estimate world oil reserves. They don't have the luxury to blow sunshine up their own posteriors, I'm just amazed that they are leveling with the American people. I believe that the close proximity of Peak Oil is common knowledge in the federal gov't, major oil companies, and Wall Street. The share prices of most companies that are related to oil or an alternate form of energy (gas/coal) have gone through the roof. Somebody knows something....

[lvx35]

1. This is good news, though not entirely new.

This campaign was started before. They are right to be doing something about it in starting the willyoujoinus campaign, but it is also intended to push stock prices up. This is the process beginning that conservatives would refer to as the "free market adapting to coming oil shortage". It remains one of the great tests of the free market in our time as to whether or not they will be able to sufficiently address the issue, though. Methinks a real solution will require governmet intervention, in the form of subsidies to alternative energy firms.

[Booster]

2. There was another thread that stated the Bush's were buying

stock in alternative energy sources - that tells me all I need to know about peak oil. I want to add that Halliburton/Cheney have raped our country of billions of dollars on a false premise that we would have oil forever so we could enjoy our SUV's. Scumbags.