Another article by Jad Mouawad of the New York Times on how the rising oil prices have not spurred additional production. I think he’s a closet Peak Oil evangelist. As oil prices continue to break records, there does not seem to be an end in sight. Nevertheless, recent highs may be attributable to strikes in Nigeria and Scotland leading to panic buying of oil.
Here’s another take on my strategy for peak oil – it’s not elegant, but it makes sense to me: Last supplier standing dictates the price. Find suppliers with calls to long term supplies of oil, and hang on to them. Once production decline begins, oil prices may skyrocket.
The downside to this could be that government intervention may occur once supplies begin to decline. Part of that action may be to penalize oil speculators/investors. Can’t see how this can happen except under extreme circumstances, but who can foretell the future?
0 Responses to “Another NY Times Article on Peak Oil”