 | Where Does the US Import Oil and Other Petroleum Products From? | The Oil Drum | Agriculture: Unsustainable Resource Depletion Began 10,000 Years Ago |  |
119 comments on DrumBeat: October 20, 2008
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119 comments on DrumBeat: October 20, 2008
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It's amazing -one short oil price peak and retrenchmant and suddenly 'Peak Oil' is a multi-billion hoax...!
We need to apply something akin to a moving average to the Oil Supply with a duration measured in hundreds of days if not many years. The current financial crisis on the other hand has a much shorter period as you can literally 'throw money at the problem' as we have seen.
It's unlikely that demand will be killed off that much by the current downturn but the abrupt curtailing of capital investment in oil and the killing off of alternatives is going to make PO even worse when it does arrive.
Nick.
usually, people *need* to be assured that everything is going to be just fine. they are pro-actively seeking news like this one, looking for a "reason" to satisfy that need.
preparing for peak oil means also preparing your mind and morale, and what better way is there than having to accept cutting back? people will learn the true value of staying-home entertainment and non-brandware clothes.
there will be less money to be spent, but it will be spent wiser. the world has seen the easy credit era, and the money was spent on suv-s and plasma tv sets. time for a change