The Oil Drum

100 comments on Saudi oil production revisited

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IntoTheBlack on August 14, 2006 - 3:44am

This might be a "partial" analysis problem.

The consensus at TOD is that higher oil prices need to be part of a long term Peak Oil solution.

However, a dramatic escalation of the Middle East conflict involving a conflagration in the Strait of Hormuz isn't without the potential for all sorts of other (not all that controllable or pleasant) consequences.

On balance, I think we'd prefer a different path to higher prices.

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creg on August 14, 2006 - 8:11am

IntoTheBlack
Agree!

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“Of all races in an advanced stage of civilization, the American is the least accessible to long views… Always and everywhere in a hurry to get rich, he does not give a thought to remote consequences; he sees only present advantages… He does not remember, he does not feel, he lives in a materialist dream.”

—Moiseide Ostrogorski (1902, 302-303)