What about that phrasing proves different from what I said? If extractable resources are less than demand, demand cannot grow, and with it the economy. You are repeating what I say.
You see it as production. When production is artificially limited, that doesn't create a peak situation.
As to being "clearly" no where near that, I would posit that the level of extraction is, simply, the level of extraction. If it cannot increase, peak has arrived. It has not increased since 2005 (except briefly during the super spike of 2008, but that level quickly decreased both as limited wells ran dry and the lowered price made further expensive extraction unfeasible).
It can increase, but the political will doesn't exist, or it's more profitable to continue allowing the cartel to work its will. That doesn't mean the level of extraction cannot increase, just that it has not increased.
Credits & Style Info
Talk Politics. A place to discuss politics without egomaniacal mods
![[community profile]](https://www.dreamwidth.org/img/silk/identity/community.png){kind=small}
(no subject)
Date: 5/9/11 18:17 (UTC)You see it as production. When production is artificially limited, that doesn't create a peak situation.
As to being "clearly" no where near that, I would posit that the level of extraction is, simply, the level of extraction. If it cannot increase, peak has arrived. It has not increased since 2005 (except briefly during the super spike of 2008, but that level quickly decreased both as limited wells ran dry and the lowered price made further expensive extraction unfeasible).
It can increase, but the political will doesn't exist, or it's more profitable to continue allowing the cartel to work its will. That doesn't mean the level of extraction cannot increase, just that it has not increased.