On one hand, oil is finite, and given the instability of the current political situation around the world (right - what's new?), it seems fair to say that it's not inconceivable that prices could go up to $70-100 a barrel or more. The other hand says that this is chicken little paranoia woo-woo crap.
Thoughts? Opinions? Observations?
Civilization as we know it is coming to an end soon. This is not the wacky conclusion of a religious cult, but rather the result of diligent analysis sourced by hard data and the scientists who study global “Peak Oil” and related geopolitical events.
So who are these nay-sayers who claim the sky is falling? Conspiracy fanatics? Nostradamus fans? Apocalypse Bible prophecy readers? To the contrary, they are some of the most respected, highest paid geologists, physicists, petroleum engineers, and investment bankers in the world. These are logical, rational, and conservative people and they are absolutely terrified about the situation. This is why it's so scary.
The situation is so dire, even George W. Bush's Energy Adviser, Matthew Simmons, has acknowledged "The situation is desperate. This is the world's biggest serious question." In an August 2003 interview, Mr. Simmons was asked if it was time for Peak Oil to become part of the public policy debate. He responded:
"It is past time. As I have said, the experts and politicians have no Plan B to fall back on. If energy peaks, particularly while 5 of the world’s 6.5 billion people have little or no use of modern energy, it will be a tremendous jolt to our economic well-being and to our heath - greater than anyone could ever imagine."