You should know by now the earth is obviously flat!
shortonsense wrote:thuja wrote:That's easy- we have moderately priced gasoline similar to the price 4 years ago- because we are in a massive global recession. I already referenced the WSJ article that blames the global recession in large part due to astronomical oil prices. Astronomical oil prices were due to...world oil constraints.
Greenspan referenced both supply/demand and speculation as the issue, although some others certainly concentrated on speculation
http://www.bulatlat.com/main/2009/01/10 ... e-in-2008/
However, implicit in your statement is what I consider to be an obvious, and oft missed point, both back when peak oil happened in 2005 as well as today...the absolute volume of supply DOES NOT MATTER if those willing to PAY for their demand are less than that available for supply.
Recessions tend to be wonderful examples of supply/demand in action. It should be noted that this idea is in vogue now, rather than when peak happened, where demand destruction was dismissed as having much ability to sway prices. Some still list such obvious nonsense front and center, having not paid attention to reality since peak oil happened.
"The peak of the curve coincides with the point at which the endowment of oil has been 50 percent depleted. Once the peak is passed, oil production begins to go down while cost begins to go up."
Savinar, M, 2009, website quoted for use as example of incompetence only, not as reference to actual information.thuja wrote:No global effect from Peak Oil? You'd have to be blind not to notice whats happening.
What I've noticed I've already referenced...dropping prices for the commodity which most Americans see the price of, and use, nearly every day.
Unlike some, I certainly do not confuse mortgage issues or financial incompetence with any unified field theory of oil and its influence on the number of stars in the sky, or whatever the most interesting claims are of late.