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By seancb (registered) - website | Posted December 19, 2008 at 13:02:50
"peak oil", as a buzzword, is a reference to the production of oil peaking, and while price increases (or more accurately, volatility) are a symptom of us reaching the peak of production, "peak oil" does not mean endless rising oil prices.
We will be seeing huge fluctuations while the systems we've built try to deal with the problem of steadily declining availability of crude.
Don't be fooled by recent price drops. Do you think $34 is the "norm" and we've returned to that for good? As radiohead put it, "nice dream".
I vote down for offensiveness and up for humour. I cast no votes based on my level of agreement.
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