Quote:
Originally Posted by Donger
So, you agree that we've not reached peak oil?
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No. I'm trying to explain that we have price increases ahead of supply shortage so it serves to keep demand down and this in turn means that we don't have real shortage situations. Production has flat lined so where we are taking the hit right now is in our normal growth of demand, so instead of growth we're maintaining.
It's important to realize that this is not business as usual though. Just because speculation is driving costs up ahead of supply shortage does not mean that supplies are not in a decline. In fact, Id say it pretty much has to happen this way since the supply shortage is largely predictable so speculation is hardly surprising.