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By jason (registered) | Posted September 29, 2009 at 18:26:37
it's amazing how these guys can make statements that 100% support peak oil while trying to dismiss it.
we know there's hard to find oil all over the place and that extracting it will be difficult. That's the whole point. Until now oil companies have enjoyed the free flow of easy, cheap oil. As it hits its peak while demand continues to increase (during increasingly shortened good economic times) oil companies are forced to start shelling out huge bucks in order to get access to the harder to reach stuff. Their 'huge bucks' will result in huge costs to the rest of us causing either a) shortages, b) conservation or c) more economic downturns.
We know that business and government refuse to go down route b, so what we'll see it lots of a and c.
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