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Archive for January, 2011

GIGOwhats

Posted by wastedenergy on January 28, 2011

Everyone in the media wants to be the one with the big scoop, the earth-shattering shocker that will turn everything you thought you knew upside down. It’s easy to do it, too – all you have to do is make up your own numbers, and you can support any asinine proposition you like!

As if Paul Ryan and his cohorts ever had a monopoly on Making Stuff Up. Just look what this guy did, just this morning:

The peak oil guys are like the guys who didn’t like the Cold War ending in the late 1980s. They keep looking for more evidence, but they are finding it harder and harder to define that peak oil is here. We’re about to see North Dakota become a bigger producer of oil than Alaska. There is oil wherever people are putting holes in the ground.

I knew something had to be wrong!  Those peak oil alarmists, in their typical silly fashion, have completely ignored North Dakota and of course the Brazilian pre-salt finds, and if only those wacky environmentalists would just get a grip and let us poke more holes in our own backyard, why, crude oil would simply come gushing up from the ground, every single time!  Forget engineering shortcuts in deep water; if those big oil companies really wanted to cut costs, they would just fire all their geologists.  And wouldn’t you know it, but his prediction of a sell-off has already been validated. I’ve never seen it happen so fast. I mean, what else could explain the price of West Texas Intermediate crude spiking back up nearly $4 in the course of just a few hours this afternoon to get back to the $90 level (still $10 below most other international benchmark crudes)?

Here, watch me do it now:

The media guys are like the guys who didn’t like democracy in the United States ending in 2000. They keep looking for more evidence, but they are finding it harder and harder to define that the Supreme Court actually allowed unlimited corporate donations and anonymous attack ads to usurp the power of an informed electorate. We’re about to see North Dakota become a more influential ideological breeding ground than our institutions of higher learning.  There is a success story for capitalism wherever pundits are putting their heads in the ground.

Hmm, wait a second…

Of course, it’s not really surprising to see pundits and market “analysts” staking out ground as naysayers, now that the idea of a peak and eventual decline in worldwide oil production has slowly percolated its way into mainstream thought. There’s always a quick buck to be made in saying something stupid.

“What are you sayin’…we can’t grow the pie higher no more?”

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