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How Does the Financial Crisis Affect the Peak Oil Thesis?

RichJoy,

I noted in your comment that you believe "Peak Oil" is just a theory. I admit that the "Peak Oil" production position for this planet is not currently knowable (only educated guesses at best) and therefore not really germane to shorter term price (supply and demand) discussions. So I do believe the insertion of "Peak Oil" into this headline leadin is just a teaser with little regard for the actual content.

I posted this earlier on another article on oil and it addresses "Peak any non-renewable commodity.

>>"How can you persist in calling "Peak Oil" a theory. When there is a finite quantity of ANY product or resource that is being consumed grand scale, you will have a "Peak XXXXXX" There are capped oil wells in both east and west Texas that reached their peak production prior to 1962. There are entire oil fields in California that reached peak production at mid century. There are regions such as the Permian Basin in west Texas and east New Mexico and Catarell in Mexico which have been in decline for over a decade. And, indeed, there are countries that are pumping less every year. The pool is being sucked dry worldwide. While some field's production is questionable ( i.e. Saudi), others are yet being discovered. Yes, Russia is pumping more and may not peak for some time but Norway and UK have to look forward to a lot less from the North sea platforms.

The point is that you (all countries) have proof that harvesting non-renewable, non-recyclable "stuff" is in decline. There is no argument here, scientific or otherwise, to dispute this "law of use and depletion of non-renewable resources". So it is not a theory. It is provable! <<

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