As is still the case—unfortunately, for all of us—there remains a sizeable number of individuals, organizations, and other associations determined at all costs [literally] to preserve the primacy of fossil fuels to power us into the future. Facts: good when they can be massaged to fit the partial-truth narrative required to breathe life into an industry unwilling to bend to the realities of geology, economics, and … well, reality. Facts: not good when they address the broad range of issues and concerns best left neglected to further that Abundance-No Worries narrative.
One-sentence talking points seem to be the ideal. No concerns about having to delve into the complexities of ideologically-troublesome issues, for one thing. Summary statements suggest there are no worries, for another.
As for the harm caused by failing to properly inform those relying upon the assessments of those others presumed to know? Who has the time to explain all those facts and details and what-nots?
According to the U.S. Energy Information Administration, in 1998, when the article was written, global oil production was 75.7 million bbl/day. In 2014 it was 93.2, and our problem is too much oil.
It’s useful to remember such things when the ‘experts’ grandly tell us what’s going to happen. 
With the world awash in oil and prices falling toward $26 a barrel, Iran is set to add to the oversupply now that international sanctions have been eased.
It’s as if the whole world were conspiring to bury the tattered remains of the ‘peak oil’ thesis, so popular a few years ago. 
Economics and I have a gentlemen’s agreement: the less I discuss, the better. Notwithstanding, I do understand that when prices are as other-worldly low as they are now, few in the oil industry are eager to venture out and invest in production efforts they can ill-afford.
…click on the above link to read the rest of the article…