Rising gas prices fuel e-tailer anxieties

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I don't see your point

"I simply pointed out that if they thought oil prices would spike the way you beleive in 5-10 years, they would be irrational to produce at max capacity today."

I don't see your point. Suppose the converse was true, that the oil price won't shoot up in 2017-2020. Then there would be no reason for them *not* to pump at max now because they would *not* expect the oil price to shoot up later!

So either they are not pumping at max because they know the oil price will shoot up later (indicating peak oil is true because of the price spike), or, they are pumping at max and we have no spare capacity (indicating peak oil is true because they have no spare capacity). Either way peak oil theory is true.

Let me put it another way, the counter argument to peak oil: It says, we've found oil in the past therefore we will find oil in the future.
But it's not the future, oil wells take 5-10 years to develop and another 5+ to get up to full production, so oil today would have had to be found 5-15 years ago. So its not crystal ball gazing that oil won't be found, its hindsight that it *hasn't* been found.

Posted by: Nigel Johnstone   Posted on: 08/19/05 You are currently: a Guest | Members login | Terms of Use

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