Due to oil’s rapid descent past his $70 target, shedlock is now predicting possible $50 - $60 oil what’s interesting about shedlock’s call is that he fully acknowledges the possible reality of peak oil but does not think peak oil, alone, is enough to drive prices into the stratosphere irregardless of economic fundamentals.
How peak oil found me— while on a trip to visit my parents in 2006, i picked up a book at the airport, the long emergency , by james howard kunstler this book immediately scared the absolute hell out of me.
Peak oil theory is based on the observed rise, peak, fall, and depletion of aggregate production rate in oil fields over time it is often confused with oil depletion however, whereas depletion refers to a period of falling reserves and supply, peak oil refers to peak, before terminal depletion occurs.
The peak oil thesis hinges on the supply, or lack, of oil a peaking in oil production necessitates a decrease in oil sources and thus supply as currently demonstrated in eia data, the current us crude oil production, as of 2013, is at an average of 7462 million barrels per day [4. Peak oil publications oil decline rates depletion eco-friendly business ecological economics economics electric cars energy disruptions energy efficiency energy security future air traffic scenarios future oil supply giant oil fields global warming hubbert curve hybrid cars natural gas newsletter nobel prize oil crisis oil depletion oil.
Best peak oil blogs the era of cheap oil is over and today may represent your last chance to protect your wealth from the rising price of oil why as you may know the “peak oil” thesis is unfolding in front of our eyes the idea behind peak oil is that there is a finite amount of petroleum in the world.