A new energy pessimism emerges

Being the lazy ass blogger I am, I won't be hunting down the other links I should include here, but the author of this article isn't the only one saying we'll be in deep shit (instead of oil) within a very few years.

Opinions may differ over whether the world's oil production has peaked, but Michael T Klare argues there is no doubt that the world has entered the era of "tough oil". Because oil demand is likely to keep rising and the development of new oilfields is not expected to keep pace, significant shortfalls will emerge within the next five years. The world can scrape by with the right policies - and a lot of luck.

And why do people use the word "energy" when they mean "oil"? Just asking.

(read more)