The Oil Drum

It is CERA Week and, consequently, there is a steady stream of nonsense emanating from Houston. In this brief note, I will talk a bit more about what the concept Peak Oil is.

My remarks are in reaction to Running out of oil may not be the issue at all by Kristen Hays, reporting in the Houston Chronicle on February 14th on statements by John Watson, head of international exploration and production for Chevron, at the CERA conference.

All the talk of when the world will run out of oil could be rendered irrelevant because of geopolitical issues that block access to untapped reserves, the head of international exploration and production for Chevron Corp. said Wednesday.