Replies to post #2509 on PEAK OIL - EPOCHAL EVENT OF OUR LIVES

[sumisu]

>You bolded the key sentence:

if oil declines from now on at 4% per year, as may be the case (and it may decline even more quickly) that means that global oil supply will be halved by 2025.

I believe that the optimistic Daniel Yergin of CERA submitted this figure of 4%. Peak Oil proponents recognized its importance immediately.

Yergin also predicted $150 oil this year.

I suppose that there are still people who believe that oil will return to $40.

It's beyond me how the presidential candidates have ignored the energy issue once again. In 2004, I thought for sure that it would be thoroughly discussed by 2008.

Still the oil prices continue to grab the headlines, yet many continue to believe that "Big Oil" is responsible for this geologic event.

There will soon be a day when Peak Oil is realistic and no longer a politically incorrect term.

sumi