PEAK OIL - The New Y2K or The Beginning of the Real End? Message Board

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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

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From: Don Earl	7/26/2006 6:38:22 PM
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Some food for thought: wired.com Michael Ruppert's Peak Oil theories are absurd, and peak oil theories are hardly new. Chicken Little has been declaring the sky is falling for at least 4 decades that I know of. Historically, new oil reserves are discovered at a rate of roughly double demand. The problem isn't a lack of oil, but the capacity to over produce - as seen in the late 90s when the oil glut caused prices crater. Some information on Russian ultra deep wells into basement rock: csun.edu So, how does that play into investing in the oil patch? It strikes me as being about like investing in Internet stocks in the late 90s. My advice at the time was there were two things to avoid to keep from getting clobbered: 1. Don't go long. 2. Don't sell short. If there were any US companies looking to duplicate the Russian results from ultra deep wells, it might make for interesting speculative play with a bit of mad money, but as close as I can tell, Western oil companies are still insisting the earth is flat.

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