Peak oil – May 22

WSJ: Oil monitor to slash estimate of world’s supply of crude (IEA pessimism)
Globe & Mail:
Record oil prices signal ‘new world’
‘Peak oil scenario’ approaching faster than expected

Our phony economy

Skewed expectations, for both oil and the economy as a whole, will eventually lead us down the garden path to ruin. … All bogus numbers, whether they come from the EIA or the Bureau of Labor Statistics, are part and parcel of attempts to manage our behavior to keep the growth party going.