Sunday, May 20, 2007

'Hidden' Peak Oil Warning

You can often find very important news 'hidden' away in the business section of the paper. This is not surprising, as in a system based on business (capitalism) the real power is going to be in business and so the real news about what business does! The article is about the Russian's seizing back control of some major gas reserves from BP. What I found interesting is a nod to peak oil that is just rushed past the reader as a simple matter-of-fact statement;

BP, like other energy majors, is struggling to replace its faltering reserves...

Hang on! What this seems to say is all the major oil firms are struggling to find new reserves of oil and so seems to add credibility to reports that peak oil is here.

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