[Pen-l] Peak oil

["Julio Huato" <juliohuato@xxxxxxxxx>]

Jad Mouawad (NYT) wrote:

> As oil prices soared to record levels in recent years, basic economics
> suggested that consumption would fall and supplies would rise as
> producers drilled for more oil.
>
> But as prices flirt with $120 a barrel, many energy experts are becoming
> worried that neither seems to be happening. Higher prices have done
> little to suppress global demand or attract new production, and the
> resulting mismatch has sent oil prices ever higher.

Peak oil?  This sounds more like an oil bubble.
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