

We've hit "peak oil"; now comes permanent price volatility - jpallen
http://arstechnica.com/science/news/2012/01/weve-hit-peak-oil-now-comes-permanent-price-volatility.ars

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wtvanhest
If pricing stays volatile it will force people to innovate away from oil.

If oil prices stay consistently high it will lead to increased production of
expensive sources like ultra deep water and oil sands.

In either event world economic growth will hickup and continue on.

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cpeterso
If oil prices stay high, alternative energy sources will become cost
competitive, but that energy costs will still be expensive.

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wtvanhest
Maybe, but alternatives include everything including long term trends like
people moving to cities to avoid fuel expense.

