Crash
Though this article never mentions the words once, this is pretty clear evidence of peak oil. The article states: "ExxonMobil, the world's largest oil producer, today reported a 10% drop in third-quarter profits despite the soaring price of oil. It blamed a drop in production levels, with yields falling at some of its mature oil and gas fields, and lower profit margins. "
How can you be losing money with oil at $93 a barrel? Because you're running out of the easy to reach stuff.
Almost there.
Now hopefully this civilization can collapse before some genius decides to set off a nuclear weapon. And I had better learn something useful because I don't think blogging will fill my belly.
Labels: Peak Oil
1 Comments:
And two days later it breached $96.
12:31 AM
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