[conservatism_IS_compassion]

Peak cheap oil is an entirely unexceptionable concept, requiring no discussion. All it means is that whatever cheap oil is produced will be very profitable, because the price is set at the margin - and the marginal barrel of oil is expensively produced by horizontal drilling and fracking.

[Lorianne]

Peak cheap oil is not unexceptional to comment on because hardly anyone is aware of it. I hear way too often people saying they expect that the cost of oil/gas products is going to come down.

The cost of these products is not going to come down because it would be unprofitable to extract them at formerly cheap extraction costs.

It would be good for people to be aware of this.