On Thu, 14 Apr 2005, Doug Henwood wrote:
> 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
This may explain the current popularity of the peak oil hypothesis, but I want to repeat that Hubbert's statistical model did very effectively predict the apex (and continuing fall!) of U. S. oil production. (Concern about peak oil is not just "waves of fear"; it is based on a statistical model verified by some relevant data!)
Miles