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Dust off those survivalist manuals and brush up on your dystopias: Peak oil is back.
Global production of petroleum peaked in the first quarter of last year, says analysts Raymond James, which “represents a paradigm shift of historic proportions. Unfortunately, mankind better get ready to live in a peak oil world because we believe the ‘peak’ is now behind us.”
Raymond James’s notes that non-OPEC oil production apparently peaked in the first quarter of 2007, and given precipitous falls in oil output from Russia to Mexico, there’s not much hope for a recovery. OPEC production—and thus global output—peaked a little later, in the first quarter of 2008, Raymond James says.
The contention rests on a simple argument: OPEC oil production actually fell even as oil prices were above $100 a barrel, a sign of the “tyranny of geology” that limits the easy production of ever-more crude.
Originally posted by Estharik
This is getting ridiculous. I smoked cigars like black and mild while I was at work before the tax hike, but I stopped when the packs shot up in price. I can only imagine what they will charge now. I don't drink soft drinks unless there's nothing else... so personally it won't affect me much. Alcohol on the other hand, will be a problem. Time to make myself a still I suppose.
I agree with the OP though, especially with taxing the oil companies. You want to see what excess money does to you... I'll have to find the picture. I saw it on drudgereport a long time ago.. a picture of the head of exxon. They should tax him for each of his chins
edit: found it
[edit on 13-5-2009 by Estharik]
Originally posted by Bombeni
Who decides what the sin products are?.... I CAN'T BE HELD RESPONSIBLE.