Friday, February 10, 2006

Former USGS Head Charles Groat On Peak Oil

The USGS has been taken out behind the shed numerous times for all manner of crimes by peak oil mavens, not least of which is their complicity in overstating reserves. The most recent culprit behind this, Charles Groat, gave an interview at AAPG Explorer in which he said
“The doomsayers say we’re running out of oil,” he noted, “but just from the undiscovered resource assessments the Survey has done nationally and internationally, even with the oil that’s known now the reserve growth has amounted to a lot more than the new discoveries.”
Huh? Isn't that the very definition of the problem?
“We haven’t even applied reserve growth numbers to some of the big fields in other parts of the world,” Groat said.
I'm sure Kuwait will be glad to hear about that...
“It’s finite, but that doesn’t mean we’re going to run out next year, or 10 years or even in the next 50 years.”
Um... uh... running out of things to say...