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Exxon Mobil Corporation Message Board

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  • manylumen manylumen Dec 4, 2008 4:44 PM Flag


    The recession. Peak oil is not a scam, in fact i think the price spikes we saw in 2007-2008 were indicators that demand was bumping up against supply, a message of more of what is to come. Of course recession has reset the time frame to next spike. Basically we just might be back from the brink of peak oil. I still think technical peak oil based on Hubbard is the maximum and the real peak oil will come much sooner/lower due to political access and other problems. If technical peak oil is say 110mbpd but due to opec or Venezuela discouraging exploration and new supply the actual peak oil could be say 85mbpd. Basically if the demand exceeds supply a bid war erupts to keep the wheels of industry turning, something has to give and in this case maybe it was the economy. Once the economy recovers a renewed build in demand will happen and the next spikes could be even larger. How long before next record oil price? Perhaps within 5 years. jmho

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