(for complete story see end of this summary)
THE MARKETS REACT TO PEAK OIL
Industrial Society Rides An Unstable Plateau Before the Cliff
Michael C. Ruppert
Michael Kane, FTW Energy Affairs Editor
© Copyright 2006, From The Wilderness Publications, www.fromthewilderness.com. All Rights Reserved. This story may NOT be posted on any Internet web site without express written permission. Contact firstname.lastname@example.org. May be circulated, distributed or transmitted for non-profit purposes only.
October 4th 2006, 1:47PM [PST] - New York & Caracas – Contrary to the delusion that Peak Oil is "so over", Mike Ruppert and Michael Kane point out that: Oil industry expert, [Jean] Laherrère, hesitates to predict a date for Peak Oil, partly because he doesn't trust oil-producing nations' public statements about their reserves. In the near term, he expects to see not a peak, but a "bumpy plateau" in world oil production. And Richard Heinberg now believes peak oil may look more like a bumpy plateau with much volatility in prices and production with events such a hurricanes, wars, demand destruction, and political moves alternately cutting and stimulating additional production. This must be understood in order to make sense of falling gas prices.
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