The End Of The Oil Standard
Posted by Big Gav
The "other" Peak Energy beat me to the punch on this one (as it did to the name Peak Energy, I was dismayed to find out).
OPEC's decision to abandon its price band mechanism appears unnervingly like the Texas Railroad Commission's (OPEC's predecessor when the US was the world's biggest oil producer) decision to abandon production quotas in 1972, just after the original Hubbert's peak.
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