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I live in Calgary, Alberta, which is home to most head offices for Canadian oil and gas companies. Peak Oil is a fairly important reason why I continue to live
by symesc 17y ago
I live in Calgary, Alberta, which is home to most head offices for Canadian oil and gas companies.
Peak Oil is a fairly important reason why I continue to live here despite frozen winters and cool summer evenings.
From an investment perspective, I'm essentially all-in betting on Peak Oil. Job, house, golf membership, cash investments, all of this is contingent on the continued health of the oil and gas business.
The only question about Peak Oil is when, not if. It may have already happened. Price-speculation in 2008 aside, the average cost of a barrel of oil is going up. The price of natural gas has not gone anywhere, which is likely because of shale-gas production coming online in the US. They're not making more oil. . . .
- bwhite 17y agoThe speculative froth of summer 2008 aside, the average cost of oil is not skyrocketing (http://www.eia.doe.gov/emeu/steo/pub/fsheets/real_prices.html http://www.eia.doe.gov/emeu/steo/pub/fsheets/real_prices.htm... and http://inflationdata.com/inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart.htm http://inflationdata.com/inflation/images/charts/Oil/Inflati...). Of course, this may be because people haven't yet realized that Peak Oil has happened and a massive correction is imminent. And even though no more dinosaur juice is being made (nobody seems to think the abiogenic theory is worth anything) we certainly could have the use of more oil: if the right Fischer Tropsch catalyst is found and/or if we figure out how to drill deeper and/or get more out of the existing fields.