Quote Originally Posted by Xiahou
And your experts are totally independant and unbiased right? And for how many years have the "experts" in your crowd been wrong? How many times have they claimed with "incontravertable" evidence that we should have run completely out of oil by now?
I'm not aware of them actually predicting we would be out by now, nor are they saying we will run out in the near future. The case is really an economic one. However this clearly shows the fallacy in your thinking. Unlike you and some other "experts," they have an understanding of the impact oil demand's inelasticity to pricing. You believe we have to run out before we are in serious trouble. That's not what they are saying, nor is it what I am saying.

One of these days perhaps you will start to put the economic concepts together.

Right now, you are still stuck thinking about the artificial spikes of the 70's...trying to use that to discredit those predicting production peaks. I'm split as to whether you are being dishonest by trying that tactic, or if you are being dense. There is a lesson to be learned from those spikes, however. The lesson was that the 1970 peak in U.S. oil production (which was predicted--and scoffed at by people thinking much like you) made the spikes painful and possible. It illustrated how increasing U.S. demand had made it very vulnerable when its own supply could not meet internal demand.