The Unexpected Boom in US Oil Production
A
few years ago, I made the observation that the best thing that could
happen to mitigate against some of the potentially severe consequences
of peak oil was for oil prices to rise, and remain high in the years
before oil production peaked. That would have the effect of encouraging
conservation, as people adapted to a world in which oil is no longer
cheap. High oil prices would also incentivize oil production, which
would have the effect of preventing steep declines in global oil
production — which some had predicted would lead to severe…Read more...http://oilprice.com/Energy/Crude-Oil/The-Unexpected-Boom-in-US-Oil-Production.html
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