ONE TOWN SQUARE: at the intersection of peak oil, climate change, and land use

ChevronTexaco betting peak oil has arrived

April 17th, 2005 by Jim Just

In spending $16 billion on Unical’s existing reserves rather than on drilling, an oil major shows that it believes peak oil is immanent or has already happened, meaning prices will inexorably push higher and higher in the face of surging demand.

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