>Well, we'll probably still be here, so I'm going to start a tradition of
>marking predictions with the term CHECKPREDICTION so that we can search
>for it in the archives later ;-)
Predictions of $100+ oil, a spreading consensus that it's running out...it's 1980 all over again!
No doubt we'll "run out" in some sense, someday, but this peak oil stuff sounds like the kinds of things you hear after a long run-up in prices. It's got some similiarities to the tech boom of the late 1990s - though as Robert Prechter once pointed out, stocks peak on waves of manic optimism, while commodities peak on waves of fear.
Doug