I think peak oil is totally here.

I think the pumps are gonna hit the ground dry and leave you with 25$ a gallon gas in 5 years, or worse.

Whatdyou think?

excellent

no idea what are u talking about

Let's sum it up then;

Oil is not "continuously created"

They dont make "more" of it.

As we use 84+ Million barrels a day,

We already went thru more than half of the entire planet's reserve.

The remaining half will now be battled over as we go towards the decline and ultimate end of the oil age in 25 to 50 years.

I can argue this with anyone. Hit reply if you want more.

PS: This dosnt mean that "theres no more oil", It just means that eventually, in all likeliness, oil will climb up to 200, then 500, then 1000, then 10000, then 100000, etc etc etc.

This is for the same reason that one american dollar is worth about the same as an american penny was worth at the beginning of the century.

I know that there is a LOT of oil on earth, but surely not enough for HOW we use it. Half of it gone in 75 years, the other half wont take 50, and it wont be the nice oil either.

This should be an interesting thread

Sometime this year this known guy Goldman said oil prices would reach $200 then everybody laughed at him and he finished saying $45
“The financial services firm Merrill Lynch says oil could dip as low as $25 a barrel next year as the global recession takes hold. Goldman Sachs, which has revised its 2009 projections three times, has a slightly more bullish outlook, forecasting that crude prices will average $45.”
Source: www.rferl.org
$25? I’d probably say “yes”

I doubt it, demand for oil will continue to drop as alternative sources of fuel become available.

oil gets more expensive less people use it, they walk, get a train, take holidays in there own country, shop nearby which will mean less oil get used and due to the increase of price further forms of energy turn out to be further inexpensively feasible.

Crude Oil Asian stocks fell down as that commodities prices have risen faster than a recovery in demand.

Local gasoline prices also have been trending lower, though not in proportion with oil.

Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. The concept is based on the observed production rates of individual oil wells, and the combined production rate of a field of related oil wells.

Interesting Thread For Investors