I just heard T. Boone Pickens, the legendary founder of Mesa Petroleum the nations largest independent oil producer, on CNBC TV predict that demand for crude would reach 87 million barrels per day in the 3rd quarter of this year and that he did not see how more than 84 million barrels per day could be produced. Prices would go above $60 per barrel. He had earlier predicted that we would see $60 oil before we saw $40.
So where do we go from here? Is this a tangible sign that peak oil is imminent?
My greatest fear is these are exactly the kind of "tangible signs" that we're going to get until all of the sudden we're at $90/bbl. It's going to be incremental until there's one more terrorist attack, or one more supply problem, or or or...(you get my point).
Nice work over here, by the way. Keep it up.
Posted by: The Oil Drum (profgoose) | April 05, 2005 at 09:47 PM
I would like to thank you for the efforts you've made in writing this posting.
Posted by: NFL shop | June 04, 2011 at 03:06 AM