REWahoo
Give me a museum and I'll fill it. (Picasso) Give
I found a few threads back in 2005 - 2008 where many posters were convinced we were at or near the point of "peak oil" and prices had nowhere to go but up as supplies dwindled.
http://www.early-retirement.org/forums/f30/peak-oil-17363.html
http://www.early-retirement.org/for...k-15-gallon-gas-and-our-retirement-35818.html
http://www.early-retirement.org/forums/f28/oil-peaked-32941.html
My how times have changed:
'Peak oil' doomsayers proved wrong
http://www.early-retirement.org/forums/f30/peak-oil-17363.html
http://www.early-retirement.org/for...k-15-gallon-gas-and-our-retirement-35818.html
http://www.early-retirement.org/forums/f28/oil-peaked-32941.html
My how times have changed:
'Peak oil' doomsayers proved wrong
Five years ago, some oil market speculators became convinced that the world was nearing the limits of oil production. Sometime soon -- the 2010s? the 2020s? -- oil production would begin a long steady decline.
Think again. World oil production continues to rise.
Some nice notes in the article about how a byproduct of technical improvements in oil drilling have uncovered vast deposits of natural gas in the US, a much cleaner fuel for electrical generation compared to coal.In 1972, the year of the famous "Limits to Growth" report by the Club of Rome, the world produced about 55 million barrels of oil per day. In 2011, the world produced almost 80 million barrels. If today's prices hold, many experts expect production of 90 million barrels by decade's end.