The "Peak Oil" Scare and the Coming Oil Flood
Is the earth's oil supply starting to run out, or is there far more oil than some experts believe? This book points out flaws in the research used to warn of an oil shortfall and predicts that large new reserves of oil are soon to be tapped.

In the last decade, oil experts, geologists, and policy makers alike have warned that a peak in oil production around the world was about to be reached and that global economic distress would result when this occurred. But it didn't happen. The "Peak Oil" Scare and the Coming Oil Flood refutes the recent claims that world oil production is nearing a peak and threatening economic disaster by analyzing the methods used by the theory's proponents. Author Michael C. Lynch, former researcher at Massachusetts Institute of Technology (MIT), debunks the "Peak Oil" crisis prediction and describes how the next few years will instead see large amounts of new supply that will bring oil prices down and boost the global economy.

This book will be invaluable to those involved in the energy industry, including among those fields that are competing with oil, as well as financial institutions for which the price of oil is of critical importance. Lynch uncovers the facts behind the misleading news stories and media coverage on oil production as well as the analytic process that reveals the truth about the global oil supply. General readers will be dismayed to learn how governments have frequently been led astray by seeming logical theories that prove to have no sound basis and will come away with a healthy sense of skepticism about popular economics.
"1119768370"
The "Peak Oil" Scare and the Coming Oil Flood
Is the earth's oil supply starting to run out, or is there far more oil than some experts believe? This book points out flaws in the research used to warn of an oil shortfall and predicts that large new reserves of oil are soon to be tapped.

In the last decade, oil experts, geologists, and policy makers alike have warned that a peak in oil production around the world was about to be reached and that global economic distress would result when this occurred. But it didn't happen. The "Peak Oil" Scare and the Coming Oil Flood refutes the recent claims that world oil production is nearing a peak and threatening economic disaster by analyzing the methods used by the theory's proponents. Author Michael C. Lynch, former researcher at Massachusetts Institute of Technology (MIT), debunks the "Peak Oil" crisis prediction and describes how the next few years will instead see large amounts of new supply that will bring oil prices down and boost the global economy.

This book will be invaluable to those involved in the energy industry, including among those fields that are competing with oil, as well as financial institutions for which the price of oil is of critical importance. Lynch uncovers the facts behind the misleading news stories and media coverage on oil production as well as the analytic process that reveals the truth about the global oil supply. General readers will be dismayed to learn how governments have frequently been led astray by seeming logical theories that prove to have no sound basis and will come away with a healthy sense of skepticism about popular economics.
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Overview

Is the earth's oil supply starting to run out, or is there far more oil than some experts believe? This book points out flaws in the research used to warn of an oil shortfall and predicts that large new reserves of oil are soon to be tapped.

In the last decade, oil experts, geologists, and policy makers alike have warned that a peak in oil production around the world was about to be reached and that global economic distress would result when this occurred. But it didn't happen. The "Peak Oil" Scare and the Coming Oil Flood refutes the recent claims that world oil production is nearing a peak and threatening economic disaster by analyzing the methods used by the theory's proponents. Author Michael C. Lynch, former researcher at Massachusetts Institute of Technology (MIT), debunks the "Peak Oil" crisis prediction and describes how the next few years will instead see large amounts of new supply that will bring oil prices down and boost the global economy.

This book will be invaluable to those involved in the energy industry, including among those fields that are competing with oil, as well as financial institutions for which the price of oil is of critical importance. Lynch uncovers the facts behind the misleading news stories and media coverage on oil production as well as the analytic process that reveals the truth about the global oil supply. General readers will be dismayed to learn how governments have frequently been led astray by seeming logical theories that prove to have no sound basis and will come away with a healthy sense of skepticism about popular economics.

Product Details

ISBN-13: 9798216040422
Publisher: Bloomsbury Publishing
Publication date: 07/25/2016
Sold by: Barnes & Noble
Format: eBook
Pages: 504
File size: 9 MB
Age Range: 7 - 17 Years

About the Author

Michael C. Lynch is president of Strategic Energy and Economic Research, Inc. He serves as a lecturer in the MBA program at Vienna University, Austria, and blogs on energy for Forbes.com.
Michael C. Lynch is president of Strategic Energy and Economic Research, Inc. He serves as a lecturer in the MBA program at Vienna University, Austria, and blogs on energy for Forbes.com.

Leonardo Maugeri is Group Senior Vice President, Strategies and Development, for the Italian energy company Eni, the sixth-largest publicly listed oil company in the world. His articles have appeared in Newsweek, Foreign Affairs, Science, and the Wall Street Journal, among other publications.

Table of Contents

Figures and Tables vii

Foreword Leonardo Maugeri xiii

1 The End of (Oil) Days 1

2 Déjà vu All Over Again 13

3 Going Wrong with Confidence 33

4 Abundance and Its Enemies 55

5 The Hubbert Curve Ball 75

6 Get Thee to a Statistics Class 89

7 Reserve Growth: From Small Acorns Grow Mighty Trees 103

8 The Strange Controversy over Saudi Oil Production 117

9 The Track Record of Peak Oil Theorists: Missed It by That Much 131

10 She Blinded Me with Science 151

11 This Is Science? Poor Research Quality 161

12 Motivations 191

13 Real-World Problems 203

14 The Red Queen: Running Faster to Stay in Place 217

15 Resources 231

16 The Cost of Production 251

17 How High Were My Prices? 269

18 Tipping Point for Prices 283

19 The Shale Revolution 299

20 In Vino Veritas: Conventional Oil Production Outlook 325

21 The Design and Interpretation of Oil Supply Curves 347

22 Lower Energy Prices: The Good, the Bad, and the Ugly 365

23 Assessing the Viability of New Energy Technologies 383

24 Conclusions 409

Notes 417

Index 461

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