RE:The Imminent Peak In Permian OilI guess you could me a skeptic but over the years I have seen the world swing back and forth between the world being awash with oil to we are running out of oil. In the mid 70s the National Energy Board in their Annual Oil Report recommended to Paliament that Canada should cut its oil exports to the US since we had less than 5 years of oil left in Canada. Now, about 50 years later we have at least a hundred years of oil left at a much higher consumption and export level.
I know oil has different qualities etc but there are also huge undeveloped oil deposits in the world in Iran and the Caspian Sea to name a couple. For me to be concerned that the world will run out of oil during even the lifespan of my grandkids is at best a stretch.
On the other side of the equation, oil demand in the Western world and the biggest economies in Asia will fall as time goes on.