A Wild Hair – Jim Kunstler

Which leads me to the real subject of this Monday blog, which is the question of oil prices. Cheerleaders for an obsolete reality, such as Michael Lynch and Forbes Magazine, are hailing the current drop from the mid $70-range to the low $60-range as an epochal tide-turning return to the salad days of cheap oil. (Lynch predicts it will go down to the $20’s.)

Here are some of my current theories. For one thing, being at-or-near peak does not remove price volatility from the picture. It may, in fact, increase volatility as oil markets — like any large-scale complex system — are likely to be destabilized by the uncertainties of what peak will do to all the other big complex systems in our hyper-connected world.
Clusterf*ck Nation by Jim Kunstler