pstarr wrote:shortonoil wrote:Your bet seems to be more about when the monetary/ financal system will take a high dive into a shallow pool than about oil, but, Good Luck.
That is certainly a component of my confidence/bet. Though few are able/willing to admit it, the Greatest Recession ever was sparked in large part by the 2005 conventional oil peak and half-decade of $100/barrel oil (from $40). Each year the US sent an additional $300 billion overseas in oil-payments. The world is in debt and broke. Comfortable americans have no idea how low economies everywhere have already sunk.
Pstarr,may lose his bet because sucker investors & Banks keep propping up the Oil Industry and the Govt itself will try to also because the Oil Industry is the Economy so they will continue pumping full out. Remember money can be created out of thin air. That should give nobody comfort as that will mean we will deplete our remaining legacy reserves that much faster and thus reach that much faster the denouement of the Oil Industry