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STORY SUMMARY
(for complete story see end of this summary)
THE MARKETS REACT TO PEAK OIL
Industrial Society Rides An Unstable Plateau Before the Cliff
by
Michael C. Ruppert
&
Michael Kane, FTW Energy Affairs Editor
© Copyright 2006, From The Wilderness Publications, www.fromthewilderness.com. All Rights Reserved. This story may NOT be posted on any Internet web site without express written permission. Contact admin@copvcia.com. May be circulated, distributed or transmitted for non-profit purposes only.
October 4th 2006, 1:47PM [PST] - New York & Caracas – Contrary to the delusion that Peak Oil is "so over", Mike Ruppert and Michael Kane point out that: Oil industry expert, [Jean] Laherrère, hesitates to predict a date for Peak Oil, partly because he doesn't trust oil-producing nations' public statements about their reserves. In the near term, he expects to see not a peak, but a "bumpy plateau" in world oil production. And Richard Heinberg now believes peak oil may look more like a bumpy plateau with much volatility in prices and production with events such a hurricanes, wars, demand destruction, and political moves alternately cutting and stimulating additional production. This must be understood in order to make sense of falling gas prices.
FULL STORY
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