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Monday, June 30, 2008

Peak Oil and $ 600 per barrel prediction

This man is discussing peak-oil with the help of a bell curve.

We're going to hear new theories about pric of oil in the near future.

Cheap oil from the Middle East.
  • Russia
  • America
  • North Sea
  • Canada
  • Iraq
  • Iran
Says tallcoolone1 (2 weeks ago)
In theory "peak oil" may be inevitable, but in fact we are not there.

Saudi Arabia is set to increase production by 500,000 barrels a day.

They couldnt do that if they were at a peak. But Saudi appears to be skeptical about the price increases, which they believe are not justified.

Fittingly, they would like to lower the prices to make sure we dont start switching in large measure to other energy sources.
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