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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: GVTucker who wrote (74405)	11/6/2007 3:25:48 PM
From: Eric	Respond to of 77399

OT I totally agree in relation to the past shocks. In 1973 there was approximately 10mil bbls of excess capacity available and even up to the last shock in the 90's we had excess capacity. If we really are at peak then that has massive consequences for farming and transportation. In the past shocks the area under the curve was very small and the pain only lasted a short time within each shock. If there were not so many people on the planet I would not be so worried.

To: GVTucker who wrote (74405)	11/6/2007 4:26:24 PM
From: RetiredNow	Read Replies (1) \| Respond to of 77399

OT Absolutely. The term peak oil refers to the literal exhaustion of new sources of supply...not necessarily to the price elasticity of demand. We all know that when prices rise enough, eventually demand slackens for commodities as either new supply is found or substitutes become economically viable. We'll see that play out again this time around. The only question is whether we really have reached an oil supply peak that will never be exceeded again. That may drive some very interesting behaviors in the demand curve as well as the price of that commodity. For example, if supply has hit a peak and then demand doesn't taper off quickly enough as available supply decreases, you could have enormous increases in price, even as demand shrinks due to recession. Anyway, we live in interesting times. That's for sure.