Picked this up from ZeroHedge blog.
The comments on this run from OK to way out there. I do not agree on the peak oil chart that production will drop as fast as the chart indicates… I feel it may be more of a stable production level for several years then a more gradual slope down, but predictions are really hard when they involve so many variables. Price is directly connected to how much oil will be produced… the cost of production or finding is going up pretty fast and that means… the cost of the output has to go up or the production will go down? (Economics 101).
I know everyone likes to hate big oil, but all those in the hate group need to look at who really is big oil… Not the companies that once had a tight grip. It is now a lot of “countries” that own and control the production of oil so once the governments get involved anything can happen and it usually does… not for the better either.
Guest Post: Peak Dow, Peak GDP And Peak Oil
Submitted by Tyler Durden on 04/26/2012 12:01 -0400
Submitted by Charles Hugh Smith from Of Two Minds
Peak Dow, Peak GDP And Peak Oil
Peak Oil and Peak Credit do not exist in a vacuum; they’re why we have Peak GDP, Peak Dow and peak Income.
You don’t get Peak Oil and cheap abundance in everything else: you get Peak X, Y and Z, for example Peak Oil, Peak Dow and Peak GDP. Peaks come in causal series, and yesterday I highlighted one such series: Peak Housing, Peak Fraud, Peak Suburbia and Peak Property Taxes..... Read More