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$99.54 as I write this. So close...
CNBC reported that it just hit $100.
Note that WTI was right at $50 in May, 2005--which is so far at least the monthly C+C peak (EIA).
However, my vote for "why" is principally declining net oil exports. Extrapolating from year to date data, it looks like the top five net oil exporters are going to show back to back net export declines of about one mbpd per year in 2006 and 2007 (Total Liquids).
Man, it doesn't get any closer than that...
I had just posted this on node/3449 and thought it would be appropriate here.
Back in 2004, I published an article stating that crude oil will reach $100.00 / barrel before the end of 2007.
When I wrote it , I sent it to everyone that I knew, in hopes that they would come to realize that peak oil is happening.
I have not had any better luck than anyone else here, in getting anyone to prepare for peak oil.
The article is at -
http://www.angelfire.com/in/Gilbert1/tt.html
For date verification of original article, I posted it at a couple group sites.
You can check the archives at either of these links. You may need to sign into one of these for access.
http://tech.groups.yahoo.com/group/energyresources/message/73625
http://tech.groups.yahoo.com/group/RunningOnEmpty2/message/18022
.