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By the way, with the inflation by May this year (latest data), WTI crude spot prices were just above $100-CPI-corrected in April and May 1980.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Mon Jul 9th, 2007 at 10:39:37 AM EST
[ Parent ]
I swear that when we pass that record, someone will write that oil was still more expensive, corrected for inflation, back in 1862.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Mon Jul 9th, 2007 at 11:13:17 AM EST
[ Parent ]
demand will [...] reach 95.8m barrels a day in 2012.

Right.

Problem is: where is supply gonna be?

The only way is see this happening is if everything goes smashing, all the reserves are the higher end of estimates, and Iraq starts producing bigtime.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Mon Jul 9th, 2007 at 11:30:56 AM EST
[ Parent ]

Plus, in 1980, the peak was quite temporary.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Mon Jul 9th, 2007 at 12:18:18 PM EST
[ Parent ]

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