Peak Oil has caught the attention of the oil industry and world markets in a big way. Recent oil price reductions have led the naive and the misinformed to believe that either the Bush Administration and oil companies have unilaterally lowered prices for election advantage or that there’s no such thing as Peak Oil. While there may be some truth in the former, the later assumption is wholly unwarranted. And the Bush Administration is simply not powerful enough to accomplish all this by itself. It is certainly craven enough to take advantage of existing facts and manipulate them in terms of timing.


Recent price swings - both up and down - have been predicted as a part of the Peak Oil scenario for years. I saw the first hard predictions of the bumpy plateau in 2002, and they made good sense.