A good interview

Demand for oil, particularly from the emerging economies, has grown significantly, and we have had a hard time increasing global production.  The single most likely outcome is that both conditions will continue to be with us.  The most likely scenario is that the next decade will look something like the last, with oil prices volatile but exhibiting an upward trend.

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Oil Price Spikes Have Little To Do With Wars, Natural Disasters Or Speculators
There's a simpler explanation.

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  1. Drew Sowersby says:

    +Robert Rapier has the only answer I see being that money=debt is not going to disappear over night. Drill everywhere that is safe, as much as possible, and legislate that all or most of profits are instantly put into research. development, and commercialization of alternatives. A truly bounded decision is upon us. Don't believe anyone who suggests any different. 

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