[World oil supply has almost certainly peaked, but the mass acknowledgement of its imminent effects has not happened yet. So, in the eyes of the business sectors and the American public, Peak Oil isn’t really here yet. The price of crude has never been higher; but Peak Oil isn’t really here yet. Shell Oil has recently been convulsing over a series of dishonest overstatements about its oil holdings, but Peak Oil isn’t really here yet. Saudi Arabia is in damage-control P.R. mode, reasserting its indemonstrable claims of abundance with an increasingly hysterical intensity; but any shortfall in Saudi production is due solely to recent terrorist attacks. So rest assured, convenient inconveniences like the Khobar blast will soon be out of the way, and the good old days will be back…

Clearly, deception is much easier when the audience is in denial. To quote the little message in the rear-view: “objects in mirror are closer than they appear.”–JAH]

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