re: what is
A fascinating article, GSTfree - and nicely edited into "readable chunks" -- thanks for that.
Another reason to suspect that 'peak oil' is here, or closer than we think, has to do with the Middle Eastern reserves of OPEC member states.
It is highly likely that many, if not most, of these oil producing states have deliberately over stated their reserves in order to win favourable production quotas from OPEC. (the greater the reserves the larger the production quota).
Fundamentals aside, from a purely technical point of view, crude oil has been in a bullish uptrend for over 2 years and looks set to take out the $40 a barrel level sometime this year.
The ramifications of such a surge in oil prices are manifold.
