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I will say most posters are full of crap. Keep your eye on the price of crude. This will tell you what the truth is. My bet is oil goes higher. I’m not happy making such a bet but I put my money where my mouth is ———>>>

VGENX
PRNEX

I agree - "peak oil theory" was developed by an oil geologist in the 60's who noticed that peak production lagged peak discovery by 20-30 years. Very sensible. And we have passed peak discovery! The theory was well demonstrated in the US, where production has been falling since the mid 70's. Other regions have the same profile. Discoveries are likely in the future, but will be in more remote and much more expensive locations - 5 miles deep in the ocean, under the arctic ice, in the undeveloped tundra. It was cheap oil that led to the explosive growth of the first world economy. Energy was almost free, plentiful, and great reserves were available.

A confounding factor these days is that to the OPEC countries, oil reserves, production, well depletion, etc., are closely guarded state secrets. And since quotas are based on reserves, these stated figures have been inflated over the years, such that the Saudis have more reserves now than they had 30 years ago.

Right, watch the escalating price, and form your own conclusion. I've made lots of money in the oil/energy sector over the last five years. Anybody who looks at the exponential curve of the performance in this area would be aware of what is happening. Others are wearing rose colored glasses.