On Oct 22, 2008, at 10:44 AM, Jim Devine wrote:
as far as I can tell, "peak oil" ideas become more popular when oil
prices rise.
Sure seems that way, though the sample size is very small.
The economic restatement of peak oil makes even less sense when prices
have fallen by half. Markets could systematically misprice oil and
therefore give no reliable clue about the course of future supplies.
But to make the argument that high prices mean the economics of oil
extraction have changed in a fundamental way when the price is $75
sounds a lot stranger when it was $145 just a few months ago.
By the way, I interviewed a smart oil geologist named Robin Mills -
who goes out of the way to say he's seriously concerned about climate
change - last month. His book is called The Myth of the Oil Crisis;
the interview is at:
<http://www.leftbusinessobserver.com/Radio.html#080913>.
Doug
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