July 13, 2017

I REMEMBER WHEN ANYONE WHO DOUBTED “PEAK OIL” WAS CALLED A SHILL FOR EXXON, AND WHEN BARACK OBAMA SAID WE COULDN’T DRILL OUR WAY OUT OF OUR ENERGY PROBLEMS: Significant Oil Discovery off Coast of Mexico:

An international consortium of oil companies has struck oil in shallow waters off the coast of Mexico in what could be one of the five largest discoveries in the past five years, and among the top fifteen in the last two decades. The find could be good for 1.4 to 2 billion barrels of light crude. . . .

This is a big win for Mexico, which two years ago decided to allow private companies to participate in energy projects. If this find turns out to be as significant as early indicators seem to have it, expect even more international companies to get interested.

It’s also yet another reminder of just how off the “peak oil” prognosticators have been. This is a substantive find of easy to process light crude in shallow waters; no fracking or next-gen technological requirements will be necessary to exploit it. Greens may not love it, but the age of oil appears to not quite yet be over.

Well, to be fair, the Greens are just colluding with Russia to weaken Western petroleum reserves.