oil plunges below us$64 despite positive energy da, page-8

yellowcake yes that is true, but you have missed some important points:

1. There is only so much demand for oil
2. All be it a struggle now we can produce this quantity to meet this demand.
3. Long before oil gets close to running out there will be alternative energy sources

So you are not going to get a situation where the world needs oil and there is none. We have the technology now to replace oil, it’s just a matter of implementing it. Oil demand is expected to peak in 2008.

The oil industry is a double edge sword, all be the higher prices are good for producers now, higher prices stimulate research into alternative sources, the longer this pain goes on the more the public requests it and the quick the technology is implemented which means oil demand will peak sooner rather then later.