i love it - bernacke

Peak oil? Heck no... they're making more of it all the time. Just squeeze it out of sand or lift it from 10,000 feet below sea level with contained production costs. We'll be paying $50 per barrel for the next 50 years, right?
 
Peak oil theory assumes crude oil on planet earth is a finite supply commodity. In other words, a limited supply exists per the balance of production versus consumption.

Can we agree that whatever balance(s) of crude oil available on earth right now is all that exists in our timeline?

Let world consumption of oil for next ten years remain exactly where it is right now, not one iota of increase. Can we expect a net surplus of production? How about twenty years? Forty years when we meet for that toast?

Your definition of infinite versus finite supply of oil likewise says much about who I'm conversing with.

Once upon a time, passenger pigeons and american bison were widely viewed as inexhaustible commodities for wanton human exploit. Reality proved otherwise.
 
Quote from Ivanovich:

See, the problem with being all anti-US is that your bile distorts your view of the world, and you miss opportunities because of it. Saying the US is going to be a third world currency is just plain stupid - the world economy is just to interconnected for that to happen. Will it happen 50, 100 years from now? Who can say? But we'll all be long gone before that cataclysm.

The same chicken littles (like zdreg, for instance) who were frothing at the mouth in 2004 when the euro hit 1.36, calling for the fall of Rome, are the ones coming out of the woodwork again. Also the ones you never heard one peep from in the balance of the last two years.

The really funny thing is when the euro hit 1.36, half of the US had no idea - and still don't that it ever did. No one's life there was affected.

The sky is falling! The sky is falling!
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No one's life there was affected?

What are you smoking? These currency movements affect global trade, commodity prices, etc. etc. Very important stuff.

Interesting enough: GDP to national debt figures:

http://www.imf.org/external/pubs/ft...D_NGDP-GGND-BCA_NGDPD-FLIBOR6&CMP=0&x=42&y=13

Decide
 
Quote from illiquid:

Who cares about reasons . . . shoot first, make up something later on. :)
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NICE! I think that's the best job description I've read to date for trader or sheriff in the wild wild west.
 
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