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Where in the World is Peak Oil?
I haven't written about Peak Oil in a while, but that doesn't mean I haven't been paying attention to it. Most people after a getting a little Peak Oil scare last year have begun to pay attention to the economy unraveling at the seams and have forgotten about the specter of Peak Oil as the oil prices have fallen below 50 dollars a barrel.
What the masses fail to understand is that Peak Oil is largely behind this disaster. High oil prices knocked down the house of cards built by Wall Street and Mortgage banks. Yes, oil prices have become reasonable again, but available cash has dissipated, making prices irrelevant. So the next time someone tells you there is no such thing as Peak Oil, ask them how many auto dealerships are on the brink of closure.
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