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148 comments on Is Oil In a Price Bubble?

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GreyZone on June 23, 2006 - 1:12pm

Thanks for the clarification!

I tend to agree with Stuart's position - we can't be sure but there is an interesting body of evidence suggesting that we are at or very near peak. And ultimately, you (and others who have said the same) are right on this issue - we'll really only know for sure in hindsight.

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Stuart Staniford on June 23, 2006 - 1:25pm

I just learned a new trick over at RealClimate. The IPCC has been trying to make more precise definitions of common words used to describe probability. They have decided "likely" should mean "having an approximately 2/3rds probability". I like that. So my position would be "It is likely that the current plateau is the start of the peaking of world oil supply, and it is likely that the peak month of production will occur within the next three years"

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