Recorded in early Autumn 2007, Ian R Crane shared his insights into the deep geopolitical machinations of the Oil Industry and challenged the emerging 'Peak Oil' Cult. Eight months later the price of oil peaked at $147 per barrel, then crashed to $35 per barrel in November 2008. The parallels between 2008 and 2015 may well serve as an indicator of yet another imminent Global Financial Collapse!
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It is absolute reality. Even with oil selling above $90 per barrel for over 4 years, conventional oil production has declined since 2005.
ReplyDeleteThe artificially high price of oil spurred investment in extraction methods (shale and sand) that aren't sustainable without high oil prices.
Now that the money printing has stopped the price of oil is falling back down to levels supported by actual demand.
These low prices will lead to production declines globally and are ushering in the right side of Hubbert's peak.
Plant a garden. Now