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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To: Don Earl who wrote (1094)	7/27/2006 3:22:25 PM
From: I_C_Deadpeople	of 1183

Perhaps we leave it - we agree to disagree. I am well aware of your side of the argument. But there is zero proof that the world as a whole can pump an additonal 2-3 bb annually for the next 5 years. I am not an end of the world guy, I am an investor/speculator. What I see if demand overlapping supply due to peak production causing consistent upward oil price pressure for the future. This to me means investing in this sector will bring healthy returns. If there was a 'tap' to turn (like the old days)on an extra million or two barrels a day then the price would reflect that. For now, it is clear to me, that demand growth is far outstripping supply growth. Keep in mind that supply growth has to cover depleted reserves PLUS new demand. I recognize i could be wrong but the US has peaked, Mexico announced Cantrell has peaked, North Sea has peaked, etc etc. The BIG areas have peaked, save for SA whose reserves and depletion stats are questionable at best. Then we factor in political and geo-political factors and religious wars and the like. These favor upward oil prices.

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