Pops wrote:The only thing sure about the period before peak is that on average production will not be declining, mostly. Demand might be big or small, rising or falling; price might be high or low, rising or falling; surplus might be large or small, rising or falling; production itself could be going in any or no particular direction... until it does.
And that uncertainty and volatility creates enormous economic instability. Oil doesn't have to peak to bring down the house of cards, it just has to threaten to.