Debunked Myths

The 'peak oil' theory predicting imminent global oil depletion dominated environmental concerns for decades. Based on 1950s models, it warned of irreversible production declines leading to economic collapse. These predictions failed to account for one critical factor: human innovation.

The development of hydraulic fracturing (fracking) and horizontal drilling unlocked vast 'unconventional' oil and gas reserves trapped in shale formations. This technological revolution, particularly in the United States, transformed the country from a declining producer to the world's top oil producer, flooding global markets and upending geopolitics.

The story represents a classic case of Malthusian prediction—assuming static technology while ignoring human ingenuity's capacity to rewrite resource rules. Today's challenge has shifted from fear of running out to the urgent need to transition away from fossil fuels to prevent climate catastrophe, proving that technological solutions often create new sets of challenges.