Stanley Reed has been covering energy and the Middle East from London for more than three decades, most recently for The New York Times. With the war in Iran and its threat to global energy supplies as backdrop, we have a wide-ranging conversation about the Age of Oil. Despite longstanding predictions of Peak Oil, this era is by no means over, Reed tells me. Big Oil is used to political risk, as in the Persian Gulf region. Even now, the oil majors are busy exploring for deposits in Namibia. Venezuela could become a major producer again. The fundamental determinant, Reed says, is not the supply of fossil fuels but the demand for their use. The global Age of Oil, which began in the 19th century with commercial extractions in the United States and Caspian Sea region, huffs and puffs its way along in the 21st century.
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