7
Aug
2005

Chevron, Peak Oil, and China

by Shepherd Bliss

“It took us 125 years to use the first trillion barrels of oil,” notes Chevron Corporation’s two full-page ad that began appearing in July in the Wall Street Journal, the Economist, the Financial Times and elsewhere. “We’ll use the next trillion in 30,” the ad continues, thus quietly admitting to the Peak Oil that the industry has not previously disclosed publicly. “One thing is clear: the age of easy oil is over,” the ad reveals in a folksy letter from “Dave”, Chevron’s Chairman and CEO David J. O’Reilly. Most Americans are still unaware of the pending Peak Oil or try to deny the tremendous impact it will have. Chevron proudly presents itself as “the Good Guy” by informing the public of the lessening supply of petroleum at a time when the demand is soaring, especially in China, India, and other industrializing countries. Chevron’s multi-million dollar global corporate goodwill campaign includes TV teaser ads throughout the US, Asia, Africa, the Middle East, and Latin America. Airport locations in Beijing, Moscow, Washington, D.C. and elsewhere broadcast the ad, also available on-line. Yet as the prices of crude oil and gasoline soar -- symptoms of Peak Oil -- so do the profits of Big Oil....

//www.dissidentvoice.org/Aug05/Bliss0806.htm
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