Additional Notes on “Is oil going to be more expensive?”

November 12th, 2006

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In our previous article, we mentioned about the theory of Peak Oil. For the sake of objectivity, we have to alert our readers that there exist arguments against and for the theory of Peak Oil. Some people regard Peak Oil as a myth while others believe we are now entering the stage of Peak Oil production. Yet some others believe that development of new oil extraction technologies or rise of alternative energies will render Peak Oil irrelevant. Regardless of whether Peak Oil is true or not, our basic belief is that ceteris paribus (everything else being equal), the trend points to a growing gap between demand and supply of oil.