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Post Carbon Fellow John Kaufmann's joint op-ed the 'Market drives oil prices' appeared in the Statesman Journal.
From the article:
There are two ways to address this supply-demand imbalance — increase supply or curb demand. In fact, U.S. production has increased, particularly from the Bakken shale oil in North Dakota. This has kept U.S. gas prices from being even higher than they are.
However, new domestic supplies will not permanently reverse America’s long-term decline in oil production.
Yes, there's still oil in the ground. We just can't afford it. In broad terms, the peak oil analysts were right. But the fossil fuel industry is winning the PR battle.
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what is pci?Founded in 2003, Post Carbon Institute is leading the transition to a more resilient, equitable, and sustainable world. The Institute has gathered 29 of the world's leading experts on a wide range of interdependent social and scientific issues.
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