I received the March issue of Oil and Gas Investor magazine and found an article on Page 47 titled "Peak Oil Thoughts".
If you actually work in the oil industry then a copy of this will be floating around your offices somewhere. Unfortunately most peak oil members don't know what crude oil actually looks and smells like. But that is beside the point.
Steve Andrews wrote: We think it's reasonable to make the case that we have hit the peak-oil plateau. But we don't think today's prices are enough to incent sufficient production of conventional oil to keep us on this plateau. It may lead to a sooner decline off the plateau.
The article goes on to say...
Steve Andrews wrote: When it comes to unconventional oil, we don't see much on the horizon. Unconventional resources have been viewed as sources that would slow decline on the back side of the peak-oil plateau, but they will contribute much less at today's lower prices
Steve then goes on to predict prices for year end 2009....
Steve Andrews wrote: We'd be surprised if oil doesn't bounce back to between $50 and $70 by the end of the year...
Anyways the article is pretty basic for most peak oil enthusiasts like you but every oil executive will have a copy of this magazine on their desk. It surprised me an industry publication would publish this article when "the world is awash in oil". Maybe they are peak oil believers.
