Re: Oil Prices Will Never Recover Pt. 3
Posted: Sat 06 Jan 2018, 16:18:17
onlooker wrote:Quite some time ago, Richard Heinberg was already anticipating this rollercoaster ride in prices in his book "When the Party is Over"
What rollercoaster ride? I don't recall him predicting that the consequence to peak oil would be increased supply of a size to disrupt the entire global market, that supply originating from the US, the price crashing and STAYING there because of this new supply, etc etc. Perhaps you read a different print edition of that book then I did? He specifically refuted the things that happened, as best I can tell.
onlooker wrote: But, the important thing to note is that this seesaw effect will get progressively worse so that as both the Oil Industsry and thus the Economy descend ever more, the ability of the oil price to recover ie get higher and of the Economy to get better fizzles out due to energy/economic constraints.
Progressively worse? The current global markets haven't yet approached what went on in the 1970's or what happened in 1986. So where do you get this "progressively worse" idea? As opposed to progressively better because, as many professionals might note, "holy cow this is bad! But at least I didn't lose my job like we all did in 1986!"