Bending the Third Rail
Because We Should, We Can, We Do
Monday, January 01, 2007
Oil Update
This is a chart of the various measures of oil output.

Plateau anyone?

We shall see.

The brief respite in gasoline prices for the election is remitting slowly and is predicted to go to new highs during spring. Perhaps. While supply may be plateauing, if demand backs off due to a recession then those high gas prices predictions may not be that accurate unless our OPEC friends are able to limit production. What's really important to understand and watch is that price is more and more demand driven, not supply driven, which suggests that we are "in" peak oil.
Written at 12:45 PM by Greyhair.
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