I asked:
>if we've gone over the Hubbert hill, how come real gasoline prices are
>actually _lower_ now in the U.S. than in 1980?
Shane Mage replies.
1980 was an "outlier," a "spike," caused by the Iranian revolution
and its manipulation by the oil giants.
How do we know that we're currently not living through another outlier?
There will surely be major fluctuations in the price of oil, but the
essence(pun intended) of the matter is that 2005 prices reflect
no sudden supply disruption, can scarcely be ascribed to manipulation,
and coincide with a major secular increase in energy demand.
Shane Mage
"Thunderbolt steers all things...It consents and does not
consent to be called
Zeus."
Herakleitos of Ephesos
