Friday, September 30, 2005

Caveat Empty

Exxon Mobil Corporation issued a report, The Outlook for Energy: A 2030 View, which forecasts a peak in world oil production in five years. Alfred J. Cavallo says in The Bulletin of the Atomic Scientists that this report
... is more credible than other predictions for several reasons. First and foremost is that the source is ExxonMobil. No oil company, much less one with so much managerial, scientific, and engineering talent, has ever discussed peak oil production before. Given the profound implications of this forecast, it must have been published only after a thorough review.