rshizzle wrote:I still think the trend is flat. The increase is also more expensive to produce than before, which is a big reason oil isn't ~50/bbl like in 2005. I doubt the market will support 110ish Brent much longer, along with the solvency issues still hanging around.
If the price crashes the economy again (Europe this time around), does the dip in production only come because of reduced demand? Or because the increases are uneconomical if the price drops much below 85/bbl?
It's much more complicated than you're trying to make it seem.
Faith Birol, an economist of impeccable credentials with the IEA said that peak oil was in 2006.
Obviously the source for your information must be in error.
OilFinder2 wrote:Up, up, and awaaaaaay.
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