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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 455.37+3.1%Feb 6 4:00 PM EST
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To: energyplay who wrote (99242)3/17/2013 11:30:56 AM
From: bart13  Read Replies (1) of 220075
 
Looking on your graph, you can see imports headed up right after that - and now have headed back down.

They did head down after the oil price peak in 2011 (and 2008) of course, but my point is that they haven't broken below about 1.5% of GDP in spite of the huge oil production gains in the US. That 1.5% is higher than any point on the chart since the early 1980s.

And the depletion rates aren't exactly encouraging. Even the EIA forecasts a peak last this decade.



Peak Cheap Oil (phrase coined by EJ at iTulip years ago) is quite alive and well.
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