by AgentR » Sat 25 Apr 2009, 20:33:46
$this->bbcode_second_pass_quote('shortonsense', 'I') would think the peak oil having happened, and caused sub $2.00/gal prices in the US would by itself be quite a good indicator as to how accurate the projections of a post peak world have been to date?
Seems to be doing exactly what a lot of people including myself have been predicting since become aware of the problem. Each time demand taps the upper bound of available supply you get a price run up; some permanent demand destruction, some economic injury, a collapse in demand and price, which then sets the stage for another run up, but weaker, each time it goes through the cycle.
This will repeat till the economy is flat out broken, but that might mean gasoline is selling at $1 or a gallon, or $20 a gallon; as thats more dependent upon how the dollar is handled than anything else.
Yes, we are. As we are.
And so shall we remain; Until the end.