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Just been doing some digging around the internet and found this chart of oil prices corrected to 2000 dollars.

Whilst agreeing with the thrust of crashy's post, this chart shows a lower adjusted highest high figureof under 60 2000 dollars. At a guess that would be around 70 2004 dollars.

Splitting hairs I know, but it confirms that we have had oil prices this high before, but it aslo shows that at $53 it is certainly not cheap. (I supect thet Crashy is suggesting that it is "cheaper" than it is going to be)

Previous spikes have of course, resulted in recessions and I suspect this one will have the same result, particularly if we go to 60-70 on this run as Crashy suggests.

The scary part is the preponderence of apocolyptic scenarios as a result of surpassing peak oil production...such as this one www.lifeaftertheoilcrash.net

Are they right? Well it is a finite resource, and as always there are countering arguments. But one day oil WILL be exceptionally rare and expensive. WHEN is the only question yet to be answered.

<blockquote data-quote="wayneL" data-source="post: 2710" data-attributes="member: 58">Just been doing some digging around the internet and found this chart of oil prices corrected to 2000 dollars.Whilst agreeing with the thrust of crashy&#039;s post, this chart shows a lower adjusted highest high figureof under 60 2000 dollars. At a guess that would be around 70 2004 dollars.Splitting hairs I know, but it confirms that we have had oil prices this high before, but it aslo shows that at $53 it is certainly not cheap. (I supect thet Crashy is suggesting that it is &quot;cheaper&quot; than it is going to be)Previous spikes have of course, resulted in recessions and I suspect this one will have the same result, particularly if we go to 60-70 on this run as Crashy suggests.The scary part is the preponderence of apocolyptic scenarios as a result of surpassing peak oil production...such as this one <a href="http://www.lifeaftertheoilcrash.net" target="_blank">www.lifeaftertheoilcrash.net</a>Are they right? Well it is a finite resource, and as always there are countering arguments. But one day oil WILL be exceptionally rare and expensive. WHEN is the only question yet to be answered.</blockquote>

[QUOTE="wayneL, post: 2710, member: 58"] Just been doing some digging around the internet and found this chart of oil prices corrected to 2000 dollars. Whilst agreeing with the thrust of crashy's post, this chart shows a lower adjusted highest high figureof under 60 2000 dollars. At a guess that would be around 70 2004 dollars. Splitting hairs I know, but it confirms that we have had oil prices this high before, but it aslo shows that at $53 it is certainly not cheap. (I supect thet Crashy is suggesting that it is "cheaper" than it is going to be) Previous spikes have of course, resulted in recessions and I suspect this one will have the same result, particularly if we go to 60-70 on this run as Crashy suggests. The scary part is the preponderence of apocolyptic scenarios as a result of surpassing peak oil production...such as this one [url]www.lifeaftertheoilcrash.net[/url] Are they right? Well it is a finite resource, and as always there are countering arguments. But one day oil WILL be exceptionally rare and expensive. WHEN is the only question yet to be answered. [/QUOTE]

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