From: Adam 

John Beckett wrote:

> "Tony Ingenoso"  wrote in message
> news::
>
>>Its not just W - its the bulk of pols.  The answer is easy - people vote,
>>and they love gas hogs.
>
>
> We live in interesting times. I heard a radio interview today with someone
> who studies the oil business. He believes that it is likely that the world
> production of oil is now at its peak. In the future, he believes, oil
> production can only fall (apparently the big oil fields in the middle east
> are showing signs of age with higher percentages of water and some other
> technical babble).
>
> The interesting point is that you don't need to actually run out of oil
> before prices sky rocket. All you need is for oil production to fall below
> oil consumption, or to look as if it might.
>

Yup & until recently none of the models included the "new
capitalists" i.e. the extra 3 billion wannabe BMW drivers.....

1 billion capitalists (US, Western Europe, some others) - OK oil production can cope

4 Billion....(i.e. inc the PRC, India, E. Europe & Russia, Brazil.
etc).... not such a rozy pickie.


Already Opec have revised their base price to be USD50 per barrel. It is
only a short while since 50 was an astonishing price & the Opec target
was 20-25 with an upper end of 30.

Now we're looking at USD60/pb.


Adam

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