[BoBToMatoE]

Only because types like you wish it. There is plenty of supply - both long and short term. You and others like you who are pushing peak oil theory will kill the economy and break the back of this nation. I am sure you are more than tickled.

[Niteflyr]

There is plenty of supply - both long and short term

That is a fact...and just now the headline is: "In open letter, 12 U.S. airlines call on Congress to curb excessive speculation that they say drives up oil and fuel prices, slamming the airline industry."

more here>

[tatown]

There are even idiots that claim we have already peaked...inspite of the fact that production (as shown here by the IEA) is still increasing! Kind of like the global warming crowd that ignores global temperatures showing that the earth is actually cooling. Insanity....

http://bp2.blogger.com/_fl4GqRfOC9Q/SGnDq54csLI/AAAAAAAAAOY/NmEcpoODaJI/s1600-h/IEASupply.jpg

[RightWhale]

-——You and others like you who are pushing peak oil theory-——
Not a problem. Nobody is woried about Peak Oil.

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http://money.cnn.com/2008/07/10/news/international/opec_report.ap/index.htm

VIENNA (AP) — World energy needs will spike by more than 50% by 2030 but adequate oil reserves, conservation and new methods of recovery mean supply will keep pace with demand, the Organization of Petroleum Exporting Countries said Thursday.
. . .

The report projected oil demand to rise by 29 million barrels a day from 2006 through 2030 to reach a daily 113 million barrels a day - a drop of 4 million barrels a day over its predictions last year, “due in part to the higher oil price assumption” - expectations that pricey petroleum is here to stay.

New recovery methods to boost supply

A large part of that projected demand will be met by new recovery and production procedures, meaning total demand for “conventional crude” - oil pumped from wells and other methods using present day technology - will not exceed 82 million barrels a day by 2030, said OPEC.
. . .

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It’s Peak Oil, but not a problem. Prices will remain high, maybe not above $100 forever, but that’s high enough. OPEC would not be pushing Peak Oil anyway, not politically in their interests even if it is so.