Oil is still cheap when measured by alternatives and their roll out costs. The downward supply curve once we are off the "bumpy plateau" will be a real shock to economists who may have to consult geology advisors.
I would be holding back the immortals till at least US$200 to help protect not just your divine self but also your hoard of gold.
I cant keep up with all the new postings on sites like ODAC, Energy Bulletin, The Oil Drum. Even the IEA is becoming realistic.
