jacflash

Why Is Oil Creeping Back Up?

All of the above comments make sense. Oil is climbing in US dollar terms for all the same reasons goldbugs keep saying gold *should* be climbing much more than it is. I say, and have been saying for awhile, that if you're really concerned about future inflation in the US, skip the gold (or at least augment your gold holdings) and buy oil and gas ETFs and/or stocks like TOT or BP or XOM. The prospect of a near-term spike is only icing on the cake.

BTW, oil's up significantly from its lows, but natural gas is still cheap. Get it while you can.

Peak Oil's Bell Is Ringing

I suggest that the author spend some time with the work of Thomas Gold before concluding that oil's likely organic origin means that "Oil resources are finite; this is irrefutable." An awful lot of oil geologists will tell you that the dead-dinosaur theory of oil creation is nonsense. Even a lay person with a basic understanding of the state of the art of oil recovery should be able to see that -- oil is being recovered from depths below anything that was ever on the surface of the Earth!

That doesn't mean oil production won't peak. It doesn't mean that oil is being produced (by bacteria or whatever) in any meaningful quantities right now. But it does mean that dismissive conclusory statements about "peak oil" mostly serve to illustrate the ignorance of the utterer.

Oh well. It's not like SA's standards are particularly high these days.