Publications: Notes at the Margin

Blind to the Obvious: Doha Failure Marks a Victory for the US (April 25, 2016)


USA! USA! USA! This patriotic chant is much overused. Most readers and this author have long since tired of the jingoistic cheerleading that was so popular among the yahoos during the previous presidential administration. That said, it seems appropriate today, The United States has won the oil war. It is over. The Doha meeting marked the surrender of the oil-exporting nations. Officials from the International Energy Agency and certain countries either do not understand this or find it politically incorrect to admit the truth. Most if not all reporters for major news media have failed to get the message.


This blindness stems from their apparent adherence to the peak oil theory and the work of King Hubbert. The concept of "Hubbert’s peak" has dominated conventional thinking in the oil world for decades. Hubbert postulated that oil production would rise and then fall like a Bell curve as reserves were exhausted. Most in the energy arena believe that "oil in place" not included in reserves today will never be produced. They are wrong. Saudi Arabia, however, seems to understand that conventional thinking regarding the oil market is no longer appropriate.


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