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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (41823)	9/19/2005 3:01:45 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

We are a very long way away from Peak Oil as you understand it. In 1976-1982 we experienced a period when there was not enough light sweet crude oil to run through refineries to meet demand. This problem was solved when enough refiners invested to avoid the Windfall Profits Tax and expanded the range of crude they could handle. Once again there is not enough of the types of crude oil refineries can handle to meet demand. So more refineries need to upgraded to handle sour heavy crude. But there is little incentive for refiners to make these upgrades. A hundred years ago there was not enough crude found at depths of less than 100 feet. New drilling technology was developed and additional oil was found at less than the 300 foot level. Peak Oil has been occurring for more than 100 years. Peak Oil, as you define it, won't happen during your lifetime. .