[Antimatter]

Considering world oil production was up 3.7% in 2004 and about 1.5% this year, above the last couple of decade's average, I don't think we can call these countries examples of peak oil hitting. More like wealth being shifted around. ie China grows, poor countries get shafted, especially the ones with fuel price controls and subsidies in place. They are more a "victim" of rapid world demand growth especially from China and the US than peak oil, so far.

[ubercrap]

$this->bbcode_second_pass_quote('richardmmm', 't')he only reason that oil production has peaked in the US is because the environmentalists and local states stopped companies from drilling.

there is plenty of oil off california, florida, carolina etc etc, just those areas are banned for drilling.

[jimmydean]

$this->bbcode_second_pass_quote('richardmmm', 't')he only reason that oil production has peaked in the US is because the environmentalists and local states stopped companies from drilling.

there is plenty of oil off california, florida, carolina etc etc, just those areas are banned for drilling.

they are discovering oil in Australia now, there is the whole shelf north of russia, unexplored parts of canada, there are many places to find oil.

it's not about the quantity of oil, it;s about the amount of facilities to produce the oil which is something totally human and nothing to do with a depleted natural resource.

production and refining capacity has been curtailed due to low prices and a glut of oil in the 90s, a result of the high prices of the 70s / 80s. now we have high prices again, oil will start flowing from all quarters.

in 10 years time the price of oil will be lower than it is today and we'll have another glut again. it's just the inefficiency of a capitalist system.