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This is getting some play on cable news outlets and in the blogs and what not, so I thought it was worth pointing out.
I added the word cheap in parentheses to the NYT title because Lynch does get to it eventually.
http://www.nytimes.com/2009/08/25/op...=2&ref=opinion
Michael Lynch, the former director for Asian energy and security at the Center for International Studies at the Massachusetts Institute of Technology, is an energy consultant.
See, we've got all types here in Massachusetts, not just crazy liberals.
I added the word cheap in parentheses to the NYT title because Lynch does get to it eventually.
http://www.nytimes.com/2009/08/25/op...=2&ref=opinion
A related argument — that the “easy oil” is gone and that extraction can only become more difficult and cost-ineffective — should be recognized as vague and irrelevant. Drillers in Persia a century ago certainly didn’t consider their work easy, and the mechanized, computerized industry of today is a far sight from 19th-century mule-drawn rigs. Hundreds of fields that produce “easy oil” today were once thought technologically unreachable.
[..]
Oil remains abundant, and the price will likely come down closer to the historical level of $30 a barrel as new supplies come forward in the deep waters off West Africa and Latin America, in East Africa, and perhaps in the Bakken oil shale fields of Montana and North Dakota. But that may not keep the Chicken Littles from convincing policymakers in Washington and elsewhere that oil, being finite, must increase in price.
[..]
Oil remains abundant, and the price will likely come down closer to the historical level of $30 a barrel as new supplies come forward in the deep waters off West Africa and Latin America, in East Africa, and perhaps in the Bakken oil shale fields of Montana and North Dakota. But that may not keep the Chicken Littles from convincing policymakers in Washington and elsewhere that oil, being finite, must increase in price.
See, we've got all types here in Massachusetts, not just crazy liberals.
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