Thursday, August 11, 2005

Econbrowser On Peak Oil

I got an e-mail the other day from James Hamilton of Econbrowser, whom I've added to the side bar. He's got a couple peak oil articles up, first "Limitations Of The Hirsch Report On Peak Oil", which is about exactly that (trees do not grow to the sky and demand isn't infinitely elastic, or see yesterday's post about Asian demand declines in the face of actual price hikes).

Second, he has a long discussion with Robert Kaufmann, professor of geography at Boston University. (The full transcript can be had here without a subscription, for a change.) It's a long discussion, and much of it you should have already read before elsewhere, but unlike some of the more paranoiac types, Kaufmann has a solid understanding of likely and unlikely prospects.

Those who have read Robert Schwartz's interesting comments about the coming struggle for control of Saudi Arabia will be interested to read Hamilton's discussion of oil's recent highs, and the attendant issues. Good reading to keep you going for the rest of the day.