Poul Andreasen

What Can Possibly Explain the Price of Oil?

(quote)This is what I don’t understand, if you are a dyed in the wool “peak oil” believer, why invest in a dying industry? ... Or ... if you were to go back in time, would you try to corner the whale oil market? or invest in Texas oil fields?(unquote)

Reneables will not substitute currently 1 cubic mile of yearly oil consumption. While reneables are being developed and implemented, the price of oil will still rise skyhigh.

So it still makes perfect sense to invest in oil even if you are a peak oil believer.