Myopia: (n) a lack of foresight or discernment: a narrow view of something
Monday, May 21, 2007
Perhaps not good news
I'm not all that fond of charts, especially ones that cover such a short time frame. However, based on the importance of the item being charted, I thought I would just throw it out. I don't think we'll know if we've hit Peak Oil until 2 or 3 years after the fact - when it beomes obvious that the direction on the chart is not temporary - so call it next year or the year after before we know for sure, at the earliest.
On the other hand, if oil goes above $90/bbl and stays there (and it will soon enough, if only because of the dying dollar), I expect that many of the economic effects will be the same as one can expect from Peak Oil, whether oil has actually peaked or not.