Then there's the theory of peak oil -- the notion that any finite resources will have a beginning, middle and end of production, according to PeakOil.com.
"The theory of peak oil is no longer just theory," said Kevin Kerr, editor of Global Resources Trader, a newsletter of MarketWatch, the publisher of this report.
"As the market knows, key fields are disappearing," he said. He points to Mexico's Cantarell oil field as an example.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Likely nothing for now, analysts said. The Organization of the Petroleum Exporting Countries won't officially meet again until Sept. 11.
He said he's not sure how high oil prices have to be in order for "demand destruction" to start, but it's "going to be higher than the $80 handle we're currently staring in the face."
Starvid wrote:First time I heard about "demand destruction" in the mainstream media. Earlier the meme has always been that higher prices will bring higher production, not lower demand.
First time I heard about "demand destruction" in the mainstream media. Earlier the meme has always been that higher prices will bring higher production, not lower demand.
dinopello wrote:What is the metric being reported ?
DantesPeak wrote:What's Peak Inc.???
Whatever it is... it's wierd & pissed off.
Aaron wrote:rcs & rds s.a. 74
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