Reply #5: "Peak Oil" does NOT = "Instant Shortage"

[DCKit]

However, that IS the way it was being portrayed last summer - as if the entire supply had suddenly dried up. But you remember, 'cause you were here too - blaming peak oil for the price we were paying at the pump.

And as I said, once it became common knowledge that full tankers were sitting, lined up, off the TX coast, the facade crumbled and prices fell far faster (for a change) than they had risen. Hell, even the Saudi Oil minister went on camera to talk about the "over supply".

You can woo-woo all you want, but my original post outlined the scam quite thoroughly.