Peak Oil Redux Part 1
A recent comment from one of our readers: "Sorry, you have not disproved the Peak Oil hypothesis. All you have done is proven that speculators are controlling the oil market currently.
Which you have proven, to my satisfaction, by the way. I had wondered about this, but had no source to the actual numbers."
From the perspective of my last rant, the above comment is true. We shall go back into the archives and reiterate our previous contentions, as well as provide new empirical evidence to refute the alligator, er I mean allegation that we wrestle with called "Peak Oil".
From Market Soapbox 06/14/05:
"The Soohey Pig Pig Award goes to the media again for huckstering the Peak Oil scam. "it can be argued that there isn't much confidence in OPEC's ability to curtail rising prices given underlying concerns that OPEC lacks the spare production capacity to do so..."
As for comments regarding Occam's Razor and peak oil, Occam's Razor does not apply to peak oil. Occam's Razor should only be applied to theorems which can be empirically proven.
The theory of peak oil cannot be substantiated empirically. Remember, OPEC is responsible for a very small percentage of US oil imports. Believing in peak oil is like believing in the boogey man, its a contrived fairy tale designed to scare you. Believe half of what you see and nothing that you hear.
A large chunk of the windfall oil profits being generated for OPEC are being recycled into.....U.S. Treasury Bonds. A nice chunk of the windfall oil profits being generated for what is left of the seven sisters are being recycled into....oil futures contracts.
Thus driving the prices up artifically. Supply and demand are being artifically manipulated. We are the Arabs, and don't ever forget it. Nuff said."
Ok, looks like more of the same, so stay tuned, and no flipping, more to come in Part 2.
$130 Oil Justified? No Way
Oil Price Redux
OIL: Demand, Production and Speculation
Peak Oil - The Myth, The Legend, The Fraud
Spreading "Peak Oil" Crack
"Peking" Oil, the Saudis and China
Peak Oil? Not!
Peak Oil? Not! Part Deux
Peak Oil? Not! - Update
Peak Oil Redux Part I
Peak Oil Redux - Part II
Peak Oil Redux Part III
Peak Oil Redux Part IV
Peak Oil Redux Part V
Peak Oil Redux Part VI
Peak Oil Redux Part VII
Peak Oil Redux Part VIII
The Blame for $135 a Barrel Oil
Blame it on Markman's Myopia or The Day They Burned Ol' Dixie Down - A "Peak Oil" Commentary
Another Peak Oil Cufuffle Series
Which you have proven, to my satisfaction, by the way. I had wondered about this, but had no source to the actual numbers."
From the perspective of my last rant, the above comment is true. We shall go back into the archives and reiterate our previous contentions, as well as provide new empirical evidence to refute the alligator, er I mean allegation that we wrestle with called "Peak Oil".
From Market Soapbox 06/14/05:
"The Soohey Pig Pig Award goes to the media again for huckstering the Peak Oil scam. "it can be argued that there isn't much confidence in OPEC's ability to curtail rising prices given underlying concerns that OPEC lacks the spare production capacity to do so..."
As for comments regarding Occam's Razor and peak oil, Occam's Razor does not apply to peak oil. Occam's Razor should only be applied to theorems which can be empirically proven.
The theory of peak oil cannot be substantiated empirically. Remember, OPEC is responsible for a very small percentage of US oil imports. Believing in peak oil is like believing in the boogey man, its a contrived fairy tale designed to scare you. Believe half of what you see and nothing that you hear.
A large chunk of the windfall oil profits being generated for OPEC are being recycled into.....U.S. Treasury Bonds. A nice chunk of the windfall oil profits being generated for what is left of the seven sisters are being recycled into....oil futures contracts.
Thus driving the prices up artifically. Supply and demand are being artifically manipulated. We are the Arabs, and don't ever forget it. Nuff said."
Ok, looks like more of the same, so stay tuned, and no flipping, more to come in Part 2.
$130 Oil Justified? No Way
Oil Price Redux
OIL: Demand, Production and Speculation
Peak Oil - The Myth, The Legend, The Fraud
Spreading "Peak Oil" Crack
"Peking" Oil, the Saudis and China
Peak Oil? Not!
Peak Oil? Not! Part Deux
Peak Oil? Not! - Update
Peak Oil Redux Part I
Peak Oil Redux - Part II
Peak Oil Redux Part III
Peak Oil Redux Part IV
Peak Oil Redux Part V
Peak Oil Redux Part VI
Peak Oil Redux Part VII
Peak Oil Redux Part VIII
The Blame for $135 a Barrel Oil
Blame it on Markman's Myopia or The Day They Burned Ol' Dixie Down - A "Peak Oil" Commentary
Another Peak Oil Cufuffle Series
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