In a useful commentary, Holman Jenkins quotes Exxon CEO Rex Tillerson:
"It is true that the age of ‘easy oil’ is over. What many fail to realize is that it has been over for decades. Our industry constantly operates at the edge of technical possibility, constantly developing and applying new technologies to make those possibilities a reality," he told a group in Washington last week.
Doubters might consult a new book by energy economist Mark Jaccard, entitled "Sustainable Fossil Fuels," winner of Canada’s Donner Prize. He argues that hydrocarbons, in the form of oil, gas and coal, exist in such abundance, the challenge of technology is how to burn them more cleanly, not how to survive without them.
For the full commentary, see:
HOLMAN W. JENKINS, JR. "BUSINESS WORLD; On Gasoline, Voters Get the Politicians They Deserve." The Wall Street Journal (Weds., May 10, 2006): A19.
The full reference to the Jaccard book mentioned by Holman, is:
Jaccard, Mark. Sustainable Fossil Fuels: The Unusual Suspect in the Quest for Clean and Enduring Energy. Cambridge University Press, 2006.