Page added on December 12, 2005
Last week, I filled my trusty Honda’s gas tank and happily noted the fall in gas prices eclipsed the 9.5-cent state gas tax I voted to keep.
But after a couple of days listening to energy experts, economists and investors talk about something called “peak oil,” I fear a $2.16-a-gallon price is only a temporary respite.
Once the domain of wonky economists and think tanks, concern that world oil production is at or approaching its peak is gaining traction among America’s policymakers. On the ascending side of the production bell curve, prices tend to be relatively low. But at the peak and on the downslope, they would rise precipitously.
The Seattle Times
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