An Updated Version of the “Peak Oil” Story

By Gail Tverberg, ourfiniteworld.com

The Peak Oil story got some things right.

Big Oil’s Broken Business Model

By Michael Klare, TomDispatch

Many reasons have been provided for the dramatic plunge in the price of oil to about $60 per barrel (nearly half of what it was a year ago)...

The oil glut and low prices reflect an affordability problem

By Gail Tverberg, Our Finite World

For a long time, there has been a belief that the decline in oil supply will come by way of high oil prices. Demand will exceed supply. It seems to me that this view is backward–the decline in supply will come through low oil prices.