Or preference for oil companies buying stock instead of investing in production.
Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901 www.michaelperelman.wordpress.com -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Julio Huato Sent: Tuesday, April 29, 2008 5:06 PM To: [email protected] Subject: [Pen-l] Peak oil Jad Mouawad (NYT) wrote: > As oil prices soared to record levels in recent years, basic economics > suggested that consumption would fall and supplies would rise as > producers drilled for more oil. > > But as prices flirt with $120 a barrel, many energy experts are becoming > worried that neither seems to be happening. Higher prices have done > little to suppress global demand or attract new production, and the > resulting mismatch has sent oil prices ever higher. Peak oil? This sounds more like an oil bubble. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
