Great, simple summary of Peak Oil & how it has manifested. #PeakOil #FT From JH Kunstler's interesting & entertaining (& gently doomerist) 2015 forecasts (a good read). His summary here on Oil is really good. 'Conventional oil' peaked around 2005 & since then we've been in the 'undulating plateaux' of production & cost/price fluctuations. _"Despite the triumphal agitprop of the past few years, peak oil is for real. It just manifests more strangely than most people thought, namely, the simpleminded idea that it would only show up as ever-rising prices. No, I made point in The Long Emergency (2005) — and other commentators did too — that peak oil would manifest as volatility. And so since the actual moment of peak conventional crude around 2005, we’ve seen pretty wild oscillations in the price of oil. This is due to the harsh reality that the price people and enterprises can afford to pay for increasingly harder-to-get oil is less than th...