Friday, April 29, 2005

Wily E. Coyote ESQ. on Peak Oil?

There seem to be a number of web sites that think once we hit Peak Oil, we do a Wily E. Coyote:

(Please provide your own sound effects.)

Run full blast off the edge of a cliff about 10 steps.
Suddenly realize we are 500 feet up in the air.
Plunge straight down to the ground.

Let's do a little check with our experts though:

Matthew Simmons:

When pressed by on whether countries such as Saudi Arabia, the subject of his forthcoming book Twilight in the Desert, would really open their fields up to outside audits, Simmons replied: "I think they will be forced to, yes, I think that will happen."

Despite this outlook the investment banker was also keen to stress that he was "an optimist" on the future of energy.

Kenneth Deffeyes in his latest book "Beyond Oil: The View from Hubbert's Peak":

Though there are some downer predictions in his book, Deffeyes chooses to end with a section called "Personal Investments" and writes "If energy prices are fated to become increasingly unstable and increasingly higher, then direct ownership of energy resources becomes attractive" and indicates that his personal choice is energy trusts. The section before that is titled "Individual Actions" and recommends various sensible options for reducing your energy usage/dependency.

You can read an article about energy trusts here and a list of further names is available here. Keep in mind that they tend to make your taxes slightly more complicated.

Now doesn't that sound better than running for the hills?

Especially since that's a difficult thing to time right, apparently..