by Pops » Sun 11 Jan 2015, 10:10:28
I think history will show that the 12 months of September 2014...
Makes sense, the month I sold the farm...
LOL
The EIA forecast is of slowing LTO growth this year, since LTO has been the main area of production growth these last few years, peaking LTO could well make for peak oil. I'd guess the low price is likely to make such a call a little tougher but that never stopped anyone in the past.
This is from CrudeOilPeak.info as we all know, the growth is LTO and TarSand ...
Still Russia has put up big numbers lately and so has Iraq, peace could break out between Iran and the world and whatever is going on in Libya could change.
On the other hand I've said for a a long time that the further the plateau extends - enabled by high but not prohibitive oil prices - the more cheap conventional oil gets consumed and the fewer real conservation measures take place. So the longer the plateau the faster the drop when eventually we reach the end - essentially "stealing" oil from the downslope to extend the plateau and creating a Shark Fin dropoff:
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)