PeakOiler

Oil's Slide: A Result of Capitulation Selling?

Toro, you really need to spell-check your stuff, you know, if you want some credibility. It's M. King Hubbert, not Hubbard as you write. Peak Oil, based on Hubbert's modeling in the mid 1900's, said nothing about the world running out of oil, rather it targeted production peaks (big difference). There are enormous pools of oil in the world but, as the easy oil has been increasingly tapped, what remains is becoming more difficult and more expensive to acquire. Peak oil refers to the point in time when production peaks and begins to decline, and we are within a narrow window of that occuring now. So at some point in the not too distant future, it becomes more cost-effective to utilize other less expensive and more readily available sources of energy.