Maley's Energy Blog

http://www.forbes.com/sites/davidblackmon/2013/07/16/as-fracking-rises-peak-oil-theory-slowly-dies/

Those of us who are advanced enough in age will remember U.S. President Jimmy Carter, in 1978, telling the public in a televised speech that the world was in fact running out of oil at a rapid pace – a popular Peak Oil theory of the time – and that the US had to wean itself off of the commodity. Since the day of that speech, worldwide oil output has actually increased by more than 30%, and known available reserves are higher than they were at that time.

The main reason why Peak Oil theorists always turn out to be wrong is that they by and large appear to be unable to grasp the huge role advancing technology plays in allowing the industry to discover new oil resources previously unknown, to access known resources that were previously thought to be unexploitable, and to extract an ever-increasing percentage of oil long known to be in place via secondary and tertiary recovery techniques. They appear to believe – either through lack of imagination or due to political convenience – that current assessments of available resources in known formations will always remain static and never increase, never understanding or acknowledging that those assessments will rise along with advances in technology.

And so it should surprise no one that The Oil Drum, a site devoted a theory based on lack of imagination and growing irrelevance among prevailing thought around the oil and gas industry, was unable to sustain a critical mass of interest and will soon be closing its proverbial doors.

Well we are big rock singers, we’ve got golden fingers
And we’re loved everywhere we go
We sing about beauty and we sing about truth
At ten thousand dollars a show
We take all kind of pills to give us all kind of thrills
But the thrill we’ve never known
Is the thrill that’ll get you when you get your picture
On the cover of the Rolling Stone

{Refrain}
Rolling Stone
Wanna see my picture on the cover
Rolling Stone
Wanna buy five copies for my mother
Rolling Stone
Wanna see my smilin’ face
On the cover of the Rolling Stone

I’ve got a freaky old lady name o’ Cocaine Katy
Who embroiders on my jeans
I’ve got my poor old gray-haired Daddy
Drivin’ my limousine
Now it’s all designed to blow our minds
But our minds won’t really be blown
Like the blow that’ll get you when you get your picture
On the cover of the Rolling Stone

{Refrain}

We got a lot of little teenage blue-eyed groupies
Who do anything we say
We got a genuine Indian guru
He’s teachin’ us a better way
We got all the friends that money can buy
So we never have to be alone
And we keep gettin’ richer but we can’t get our picture
On the cover of the Rolling Stone

{Refrain}

Lyrics by Shel Silverstein

http://www.nytimes.com/2013/07/04/sports/olympics/tulsa-mayor-no-longer-backs-long-shot-olympic-bid.html?src=recg

The Tulsa mayor, Dewey F. Bartlett Jr., withdrew his support this week of the plan to bring the Summer Games to Oklahoma, acknowledging that the city was not equipped to host an enormous international event like the Olympics.

Bartlett’s decision effectively kills Tulsa’s chance of hosting the Games because the United States Olympic Committee requires local government officials to support a city’s bid.