<Dmitry Orlov's Book--Reinventing Collapse: The Soviet Example and American Prospects The Oil Drum Is a Net Oil Export Hurricane Hitting the US Gulf Coast?>
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280 comments on DrumBeat: June 2, 2008

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xeroid on June 2, 2008 - 10:06am Permalink | Subthread | Parent | Comments top

Huh?

It's just like listening to the chief economist from BP talking in the House of Commons.

Supply and demand are the same ... he is just explaining the economic mechanism of peak oil, demand will be destroyed to equal supply by increasing the price ... and he is almost certainly correct ... much of the oil will turn out to be resource not reserves, certainly too expensive to burn.

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DaveMart on June 2, 2008 - 10:11am Permalink | Subthread | Parent | Comments top

Maybe. My guess though is that he is talking about a Yergin-like land, where oil would drop back to $10/barrel, but we don't bother because we get so darn good at renewables.
Demand always calls forth supply, and geology is a fantasy, don't you know?

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DaveMart on June 2, 2008 - 10:18am Permalink | Subthread | Parent | Comments top

Looks like he reckons we can force prices back to around $40-50/barrel:

However, are there really no policy changes that could restore the more benign conditions in which oil prices of $40 or $50 were seen as normal?

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280 comments on DrumBeat: June 2, 2008

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