05-07-2010, 05:25 PM
There have been Malthusian predictions regarding peak oil production around for decades. The industry is built around a boom and bust cycle which at times has provided economic rents to producers.
Demand from developing countries like China and India will increase but hopefully new technology will allow the more developed world to create greater efficiencies and new technologies will allow overall energy prices to remain relatively constant.
I have no illusions that the price for oil should increase and perhaps dramatically in the short term but expect that overall energy prices to remain within a reasonable historic band.
I am interested in seeing the documentary but have issues with most dire predictions regarding oil production and demand forecasts.
Demand from developing countries like China and India will increase but hopefully new technology will allow the more developed world to create greater efficiencies and new technologies will allow overall energy prices to remain relatively constant.
I have no illusions that the price for oil should increase and perhaps dramatically in the short term but expect that overall energy prices to remain within a reasonable historic band.
I am interested in seeing the documentary but have issues with most dire predictions regarding oil production and demand forecasts.