Whats up with Peak oil ? - Democratic Underground

UndertheOcean

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Mon Mar-02-09 08:28 PM
Original message

Whats up with Peak oil ?

Are we there yet ,or will this depression/recession delay it a few years ?

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blues90

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Mon Mar-02-09 08:39 PM
Response to Original message

1. it's another of many issues in the looking glass , gone

out of sight , out of mind.

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neverforget

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Mon Mar-02-09 08:56 PM
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2. It's still around. Just wait until the economy recovers and oil usage

goes up. Since the price of oil crashed, the oil companies have scaled back or stopped the development of new fields because they are money losers (or not as profitable) since the oil they have found now is harder to get at thus more expensive.

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Possumpoint

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Mon Mar-02-09 09:09 PM
Response to Reply #2

3. At Or Just Past The Peak

Worldwide recession has diminished consumption. When the economies recover, reduced oil supplies will drive prices up. This will have a chilling effect on any recoveries.

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