I keep saying that peak oil denial is the new climate change denial. If you disbelieve in fossils, then you don’t have to believe that fuels are fossils, or that fossil fuels are limited. If God makes oil bubble up from the center of the Earth by magic all the time, then all we need to solve the energy crisis is faith in the magic. Here’s Newt Gingrich selling himself as the best thing that could ever happen to gasoline prices — because he’s Tinkerbell, and we just have to believe in him:
Gingrich said the answer to lowering rising gas costs in America is simple — increase the supply of gas.
“Obama says Republicans only have three strategies to solve the energy problem, and that the first is drilling, the second is drilling and the third is drilling,” he said. “I want to assure the president that he is right.”
Global oil production peaked in the last decade, and no amount of drilling will change the physical limits of the planet’s geology. Drilling is already at a 25-year high, and our dependence on foreign oil at a 30-year low — with zero effect on prices. Earth simply doesn’t make oil at the same rate humans burn it, lay it as asphalt, and make plastic trash out of it. You don’t have to be an economist to understand how declining supply and increasing demand (from a growing global population) work out as higher prices in a global market of a fungible commodity. Gasoline will never, ever be $2.50 a gallon again, no matter who is president.
I renew my call for someone, anyone in the press to ask any Republican candidate who yaps about gasoline prices whether they subscribe to abiotic oil theory. It might turn out to be the most revealing answer they’ve ever given, because no one has ever found the first barrel of abiotic oil.