70 comments on Russia's Oil Production is About to Peak
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$225 oil by 2021?? http://www.cnbc.com/id/15840232?video=721421158&play=1
Of course you meant 2012. Yeah, the CNBC gang looked pretty sick as Rubin once again went over what is basically the ELM (my usual disclaimer, I was building on work by Simmons & Deffeyes, among others).
At their current rate of increase, oil prices would double about every 18 months or so.
BTW, regarding the original post on the top three net oil exporters in 2005--Saudi Arabia, Russia and Norway (accounting for about 45% of 2005 net oil exports)--all three of them are currently showing annual and/or monthly production declines, with a predictable effect on net oil exports.
More alarmingly, the clip says in 2012.
Maybe sooner.
Hopefully sooner...
The sooner oil is expensive, the sooner alternatives will be proliferated...