[RightWhale]

Look for a huge surge in prices when people realize this.

Already there. This is peak oil.

[liberallarry]

Already there. This is peak oil.

You're probably right.

Did you see the report from a German group claiming we peaked last year or so? I can probably find it again on the net and send you the link. But it's not great, in my opinion, just a rehash. Nowhere near the class of Matt Simmons.

I've been reading some talk of $160/barrel soon. Think there's anything to it?

[Maneesh]

How many times previously have you heard about peak oil ? This has been ongoing since the 1970’s and is absurd on its face. The amount of oil reserves keeps increasing because our ability to extract it gets better everywhere. If the know reserves and our ability to extract them keep going up, how can we call this peak oil. This is pure scare mongering and appeals to our emotions and natural negative proclivities. I work in the oil industry and to say that we have reached peak oil is absurd. If you knew the amazing drilling operations about to come on board in the next 5 - 10 years, you would realize how absurd that statement is.