James Howard Kunstler
Last week, Cambridge Energy Research Associates (CERA) released a report saying that there was no imminent global oil problem and that enough new oil would come on-line to permit current levels of consumption—and beyond!—for more than a hundred years into the future. CERA’s stunningly disingenuous report flies in the face of everything that is known about the current world oil situation. CERA is fronted by Daniel Yergin, author of the Pulitzer Prize-winning history of the oil industry, The Prize. Apparently, Yergin has parlayed his legitimacy as an historian into running a disinformation service wholly owned by the IHS Corporation, a lobbying and public relations firm serving the defense, oil, and automotive industries. Apart from making a lot of money as executive vice-president of a company with about $300 million in net annual profits over about $500 million in gross revenues, it is a little hard to discern what Yergin’s motives might be in shoveling so much bad information into the public arena. … The CERA story also tragically gives aid and comfort to those who deny that climate change needs to be taken seriously, since it is saying, in essence, that we can easily continue pumping carbon dioxide into the atmosphere—by burning as much coal as we can. The CERA report amounts to “don’t worry, be happy.” Perhaps most tragically, there is no corrective for this mendacious PR. It’s not against the law to spread lies about a business venture—which is what the oil industry is—even if its truthful condition is critical to the functioning of our society. There’s no oversight committee or agency authorized to investigate public relations activity. It’s a basic case of buyer beware. Unfortunately, the buyers in this case are America’s political leaders and the news media responsible for informing the public.