Loading ...And that Kunstler article was dated back in January! But it’s all true. Here’s a similar account by an experienced Oilman…
“What I think of oil and the future…”
The only thing ‘Oilman2’ does not address here is the financial fallout of all the derivatives that financed the last run. But the peak oil curves are out there. There is oil to be had… if it is profitable… at great cost. So who will finance the next run?
Oil is set up for a supply crunch coming down the road. And it is unlikely to ever recover to present levels.