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A few things the unfortunate readers of this article need to know...
Sep 17 21:38 pm
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All Comments by Greg Pinelli »Is $150 a Barrel Coming Sooner Than We Think? [View article]
Lord Oxburgh (and I carefully read the article since he is a most esteemed member of the oil fraternity) believes Peak Oil (and he does NOT refer to it as suck) is likely a couple of decades off. He NEVER predicts a specific price within a specific time frame.
The Lord is a most conservative and carefully spoken gentleman...
very few prediction and much guarded optimism about the abilities of the market to meet demands.
I don't necessarily share those sanguine estimates..BUT..$150 oil (in todays relative value) would cause a recession of such magnitude that there would likely not be an American High School student left driving a car to school.