Poul Andreasen

Dollar/Krone Relationship A Sign Of Peak Oil?

cal48koho:"Oil will continue to go up until demand drops. No sign that $130 will do much. Maybe at $230 or $330."

My view exactly. As production is evidently not going to increase much, demand destruction needs to fix the price. Bubble thinking is wishful and contrary to facts on the ground. Production is down almost everywhere (look mazamascience.com/OilE.../ for data).

My own theoretical limit to future gasoline prices is 12.000 USD a gallon, as a gallon does the equivalent of approx. 700 hours of manual labor. Danish wages btw. You might get a slave cheaper elsewhere. But you need to work him locally. So 4 USD for 4 months labor is damned cheap alsmost everywhere in the "developed" world.