Reply #84: It's gonna happen, and happen against OPEC's will.

[TroubleMan]

Peak oil is here or right around the corner. The wells can't pump out any more gallons per minute than they are now. They've got the spigots nearly fully open. However, the demand for oil is growing tremendously. We've now reached the point where the supply can barely (or can't anymore) keep up with the demand. That's why the price is high, and will continue to rise. OPEC doesn't want you to know this is happening. They want you to think they're in control and everything's okay.

OPEC doesn't want to drive up the price to high, because then renewable alternatives become a viable alternative price-wise. It will also signal the beginning of end of the oil era, which would be a disaster for them.

For a better explanation watch this video:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=266&topic_id=97&mesg_id=97

It's one of the best video's you'll ever see - and one of the most important. It's just about math, simple math, but doing the math is scary.