A Fresh Look at Oil's Long Goodbye

An interesting article, and video, at Andrew Revkin's Dot Earth blog today on a new report indicating increasing oil supply may well lead to decreased oil pricing.

The look may not be as fresh as it's presented - this blog covered an earlier NY Times article, "Inching Toward Energy Independence" with references to a 1974 article in the Economist, 

"The Coming Glut of Energy" 

The price elasticity of supply, of energy, is greater than the price elasticity of demand

A Fresh Look at Oil's Long Goodbye - NYTimes.com:

"...mind-bending report points to a prolonged period of rising oil production, particularly in the United States (for reasons laid out below), and a potential collapse in oil prices, with all kinds of implications for security, international politics, the economy and, without doubt, climate.
The report is written by Leonardo Maugeri, a top oil company executive from Italy who is currently a research fellow at the Geopolitics of Energy Project of Harvard’s Belfer Center for Science and International Affairs. "

Continue reading at Andrew Revkin's Dot Earth blog at the NYTimes.com: