erniem

International Energy Agency Wakes Up and Smells the Peak Oil

I assume anyone who does not believe in peak oil has an explanation for why US oil producton is a small fraction of what it was thirty five years ago, and how oil miraculously reproduces itself.

Crude prices will have sharp swings for years to come, due to speculation and short term supply. As the long term prognosis for consumption continues to grow, so will supply diminish.