Recollecting the false messiah of peak oil ?  

Posted by Big Gav in

The FT's Alphaville blog has an article celebrating the death of peak oil on the basis of oil prices only being up 5% over the last year and the comments of some financial newsletter seller who apparently thinks he is clever because he calls people fools and can repeat mindless slogans like "low prices are the cure for low prices" - Recollecting the false messiah of peak oil.

Is it really that hard to understand that prices are driven by demand, the marginal cost of production and the cost of switching to alternatives (and its the second of these that indicates where we are heading regarding peak oil) ?

Perhaps our newsletter expert would like to define "low" prices...

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