No oil producer in their right mind would ever admit any evidence of peak oil as that would lead to more research into alternative energy and they would miss the whole post-peak oil devastating, yet profitable, effects. A few facts: world spending
on renewable energy R&D is less than 10 billion dollars, world subsidies of fossil fuel
are more than 500 billion, world energy expenditures
are about 6000 billions and world economy about 85 trillion. That is, renewable energy R&D represent 2% of the fossil fuel subsidies, 0.16% world energy expenditures and 0.01% of world economy. Nobody really cares about sustainability, peak oil, pollution or global warming.
Thanks for those figures, Ovi - good for perspective.
However, I would argue that "Nobody really cares about sustainability, peak oil, pollution or global warming," is not quite true. Individuals like many of us do care. Members of environmental groups like WWF, Climate Reality and Greenpeace do care. Some governments are beginning to care, bringing in carbon taxes to help wind back our dependence on fossil fuels, or funding research into alternatives. Admitted, small numbers of people and small amounts of money - but look at the growth rates. Annual growth in solar power, globally, is running at 40% according to http://www.c2es.org/technology/factsheet/solar
and is doubling every 18 months or so according to http://cleantechnica.com/2013/12/16/solars-massive-growth-top-10-solar-countries-charts/
. That kind of growth rate won't take long to make a real dent in the market.
Even the fossil fuel corporations "care", however much they try to hide the fact that they know they are about to fall into a hole they will never escape from. Their lies about reserves, their lies about the feasibility of "clean coal", their pathetic greenwash attempts, and the money they spend on disinformation campaigns and on buying politicians all show they care! Their value as companies depends the assets (reserves in the ground) and
on being able to pump or mine those reserves. They are caught both by shrinking reserves and (very soon) declines in demand due both to action against climate change and - quite recently - the fact that renewables are now as cheap as fossil fuels for many applications in many markets.
It ain't over yet! We have some very interesting times ahead.