Price Has Strong Impact on Crude Supply

Believers in the peak oil theory must be confounded by the huge increases in crude oil production in North America and other non-traditional oil producing nations over the past six to eight years. I believe this is because the theory doesn't thoroughly take into consideration the impact of price on supply.

At $20 a barrel, there surely is a limit of how much oil can be recovered profitably throughout the world. At $100 a barrel, however, new capital is raised, new technology is developed and new fields are brought online. At $200 a barrel, we may even see significant energy production increases from California, which actually holds more recoverable shale reserves than any other state in the union....426 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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