Re: The Set Up For a Collapse of Oil Prices
Posted: Mon 15 Jul 2013, 21:08:43
SeaGypsy, I'm not in any camp because I've seen oil prices go up and down for different reasons. For background in 2007 I had tunnel vision on Peak Oil. I could recite field production and consumption stats, quotes from Twilight in the desert ETC, but I couldn't see any other problem. At the same time I started hearing crazies like Peter Schiff, Marc Faber, ETC calling for a major decline in housing prices and a massive credit collapse. I couldn't believe what they were saying. In 2008 I saw it all come together and yes oil was a big piece of that puzzle.
Now there were Peak Oil people like myself that didn't think debt issues, recessions or any other economic problems causing oil prices to drop but they did. In my view our economic problems are so deeply rooted that we could have a decline or societal change before peak oil has the chance to show us how bad things would have been with a energy price shock. I don't think our growth is fast enough to cause the problems many of us peak oilers once thought was possible, yet.
I feel that this worldwide fiasco is so dynamic that many peak oil people (like myself once) are one trick ponies and can't see the other issues that may stand alone or even work together. Time will tell.
.
Now there were Peak Oil people like myself that didn't think debt issues, recessions or any other economic problems causing oil prices to drop but they did. In my view our economic problems are so deeply rooted that we could have a decline or societal change before peak oil has the chance to show us how bad things would have been with a energy price shock. I don't think our growth is fast enough to cause the problems many of us peak oilers once thought was possible, yet.
I feel that this worldwide fiasco is so dynamic that many peak oil people (like myself once) are one trick ponies and can't see the other issues that may stand alone or even work together. Time will tell.
.