Reply #17: The oil companies only control 20% of supply.

[bhikkhu]

The rest is controlled by OPEC and other nations. Perhaps speculators are driving up prices, but that's an entirely different thing from "Peak Oil".

Peak oil theory just describes the maximum flow rate of supply referenced to total reserves remaining, and is an issue for geologists, not economists.

Pretty much every sort of question or even point of view may be researched here: http://energybulletin.net/