Prices, reserves, supplies are economic,social,categories. The peak theory cannot account for the deviations, changes in any of the three. while it presents history as the fixed, and limited, product of a geology, it cannot grasp history as the product of human labor. Consequently, every crisis, price rise or drop is seen as confirmation of the original creation, and there can be no accounting, in economic terms, for the actual dynamic of capital in creating abundance, surplus, shortage, immiseration-- all those things that are so fundamentally economic.
So... 2006 was the peak, or was it 2000, or maybe it will be tomorrow, and if not tomorrow, then the day after tomorrow, and if not then, then the day after that... and it's a lot like predicting that the stock market will fall-- in 1997, and then stating in 2001, see I told you, but never accounting for what caused the real increase in stock prices, and what caused the real devaluations. Oil prices at $80? You think that is based on a peak, a real identifiable peak, or do you think it might have something to do with increased belligerence by the US towards Iran? Try graphing prices, rates of return on investment of the oil majors, and Bush's war actions on the same chart. You will be amazed, or maybe not at the convergence, coherence, synchronicity of the three. US stockpile decline last week-- hmmh, why? shortage of supplies? No such shortage exists. Look at the balance between production and consumption over the last several years. Hmmh, maybe selling into strength? Maybe, last weeks of summer, time to cash in on gas demand? How about economic explanations for economic events? -----Original Message----- >From: The Buffalo In Da' Midst <[EMAIL PROTECTED]> >Sent: Sep 12, 2007 4:22 PM >To: [email protected] >Subject: Re: [PEN-L] Self-Disinforming Society & Peak Oil > >On 9/11/07, sartesian <[EMAIL PROTECTED]> wrote: > >> Tell ya Leigh, check the rearview mirror... >> > >So, that's proof that they aren't right this time? >Two closely spaced data points? > >Do you hold the oil suppliers, or anyone else for that matter, to >those same tight standards of 'proof of theory'? > >Here's your rearview, and what's in it is pulling up on you fast. Must >be one of those new Toyota LandMovers with the BIG V-8: Gotta give the >suave, sophisticated Western-Industrial consumer (including their >adorable self-effacing 'left-consumers') what they 'want' ya know... > >Oil hits record on supply fears >Prices have been above $70 for much of the past year > >Oil prices have risen above $80 a barrel for the first time, a day >after Opec moved to boost its output of crude in an effort to ease >cost pressures. > >US light, sweet crude surpassed the landmark level before closing >slightly lower at $79.91. > >Opec members said they would raise production by 500,000 barrels a day >but some analysts have said the move is little more than a token >gesture. > >Figures also showed a sharp decrease in US crude stockpiles last week. >. >. >. >...It had been expected that Opec's move would eventually depress >prices and that this could help ease recent US economic and global >stock market jitters. >[...] > ><http://news.bbc.co.uk/2/hi/business/6991567.stm> > > >Keep waiting. > >Leigh
