The man who invented peak oil, M. King Hubbert, got a few things wrong. Indeed, he was too optimistic.10 Reasons to Still Be Pissed Off About the BP Disaster
The Oil Drum's Gail Tverberg pointed out some problems with the Hubbert Curve in a presentation this week at the 3rd Biophysical Economics Conference.
Hubbert expected nuclear power to take over before oil reached peak. He also expected more development of wind, water and solar power. Finally, he didn't count on the rise of China and India.
All of which goes to say that the downside of the Hubbert curve will be faster and more brutal than expected.
Wind power is growing rapidly
BP Sues Transocean for $40 Billion Over Oil Spill
Congress Fails To Pass A Single Oil Spill Law
Soon after his son Gordon died in the Deepwater Horizon explosion last April, Keith Jones made eight trips to Washington D.C. to push for stronger safety measures in offshore oil drilling and to increase the compensation paid to victims of the tragic accident. He met with President Obama, who apologized for the families' "unimaginable grief" and cradled Gordon's baby boy Maxwell in his arms.The 15 Most Expensive Places To Buy Gas In The World
When Jones arrived on Capitol Hill, he says he was mobbed by Senators and Representatives eager to express their condolences and to promise that they would swiftly pass legislation to make sure such a tragedy never happens again.
He is still waiting.
In the year since the worst environmental disaster in the nation's history, Congress hasn't adopted any major laws on oil and gas drilling -- despite introducing more than 150 bills to improve the safety and oversight of offshore drilling and holding more than 60 hearings to discuss the spill's causes and consequences with regulators, oil company officials, grieving relatives and Gulf-area fishermen.
More Bad News For Natural Gas: An Accident In Pennsylvania Is Pouring Toxic Fracking Fluid Into A River
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