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We’re drowning in cheap oil – yet still taxpayers prop up this toxic industry

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Screen Shot 2016-02-03 at 09.07.23George Monbiot: 3 February 2016

Those of us who predicted, during the first years of this century, an imminent peak in global oil supplies could not have been more wrong. People like the energy consultant Daniel Yergin, with whom I disputed the topic, appear to have been right: growth, he said, would continue for many years, unless governments intervened. Instead of a collapse in the supply of oil, we confront the opposite crisis: we’re drowning in the stuff.

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