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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End? -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (773)	6/20/2005 2:25:02 AM
From: Doug R	Respond to of 1183

The cost of extraction means nothing in terms of oil's value as the driver of today's civilization. Civilization will change (it always has and always will) but in its present configuration oil is its single most important support. People place a very high value on civilization in its present configuration. There is, however, a disconnect between the value placed on civilization and the value of the resources that drive it. These things happen sometimes. Markets are not always rational and it would be foolish to assume they are.