Gilbert's report casts considerable doubt on the economics behind the city's aerotropolis development plan, which will open up twelve hundred hectares of farmland around Hamilton Airport for commercial and industrial development.
Gilbert's writes, "if oil prices rise steeply, the aviation industry could be especially vulnerable, particularly freight movement, putting the aerotropolis concept at risk, to the extent that it depends on air freight."
Hamilton Chamber of Commerce CEO John Dolbec dismisses the report, saying, "we regard the whole peak oil thing as a red herring brought forward by people who are against airport development."
"The whole peak oil thing" is a "red herring"?
Now, let's set aside the arrogant presumption behind Dolbec's contention that the global peak oil phenomenon exists to thwart his airport expansion plans. Does he really think Richard Gilbert, CIBC World Markets, Leeb Capital Managemnt, Goldman-Sachs Global Investment Research, the Bank of Montreal, Simmons & Co. Intl., oil investor T. Boone Pickens, Jones Heward Investments Inc., Groppe, Long & Littell, to name just a few of the mainstream energy industry analysts predicting a near term global peak in oil production, are co-conspiring with Hamiltonians for Progressive Development to put the kibosh on Dolbec's grand vision?
Desperation planning, indeed.