Kevin Drum finds more evidence that the oil supply is becoming a problem–from the oil industry itself. A ExxonMobil report suggest that we have all but reached peak oil production in all the non-OPEC countries. Moreover, there’s a real question as to whether OPEC countries can keep pace with even the more optimistic demand estimates.
In other words, don’t hold your breath waiting to see $1/gallon gas again anytime soon.
I understand that peak oil is accurate and that we are now past the point of peak oil. I understand many of the current events have to do with this fact and it won’t be long before the main stream media and population wake up and understand what is going on. For me and my family, we are preparing for the life after the crash.