major oil wells are getting drier and production is expected to fall so the price will rise again soon. Flying has peaked
We really must stop the nonsense of this mantra. Oil prices went so stupid because it was being promoted so much that almost everybody started actually believing this nonsense, so $200 prices seemed imminent. Instead we will soon be looking towards 1/4 of that figure.
Let's try and understand, the who Peak Oil garbage relies on some very simple and erroneous assumptions- current processing techniques and current known reserves. The latest big find has been Brazilian off Rio. When the prices increases, oil shale becomes reasonably processable. There is still an immense amount still to be found, probably mostly offshore. Russia is seriously full of the stuff. Don't lose sleep on it!