Peak Oil "A Fact": Unless Global Depression, Oil Going To $500 a Barrel


As the stock market celebrates a minor dip in oil prices, the author of “Profit from the Peak“, Chris Nelder, weighs in on TechTicker. Here’s what he had to say:

  • Peak oil is a fact: Sure, there’s plenty of oil out there, but we’ll never be able to make any more of it per day than we are right now (approx. 85 million barrels). What’s more, we’ll soon be making a lot less of it, as existing fields get depleted.
  • Barring a collapse of the global economy, the sky’s the limit for oil prices–maybe $500 a barrel.
  • Given the world’s dependency on oil, a global economic collapse is likely.
  • This is a fundamental supply/demand issue, speculators irrelevant (contributes $10-$15, max).
  • Oil now dropping to $70? “Keep dreaming.”



See Also:
Ready for $12 Gas? $500 Oil Inevitable, Says London Professor
Who’s Responsible for $150 Oil? A List of the Actual Villains

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