Peak oil debate rouses Prophet!

Prophet, an FMNN regular commentator and amateur Austrian economist takes a whirl below at summarizing a free-market response to the Peak Oil myth. Here he addresses one of the myth
Dear Richard Walling – it is all a matter of financial literacy! Your statement as follows, “This is a highly technical discussion of reservoir depletion and discovery” may perhaps reveal a misunderstanding of how markets work. Such misunderstandings – if they are such – are certainly to be expected given free-market economics have been rigorously repressed and have not been taught in the schools or even interpolated into economic texts for the most part. Until the Internet and the subsequent explosion of free-market ideologies driven by such outfits as the von Mises Institute, there was no viable methodology to even begin to communicate the truth. It is no one’s fault that pernacious tales such as Peak Oil haunt public discourse – they would be far worse, and more immediately catastrophic were in not for the debunking power of this wonderful mechanism of “individual mass communication.”

Having said that, here are further points that cut to the heart of the fallacious argument projected by Peak Oil.

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