Jim Letourneau's Blog

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No need for panic over decreasing oil supply - Gwynne Dyer

Gwynne Dyer lays out a rational response to the following:

oil production, which grew annually by an average of 1.2 million b/d
during the past 20 years, has been almost flat for the past 18 months
despite the absence of any major disruptions.

Conflict and hoarding of resources is certainly not the most rational response in the face of a shortage but that is what usually happens. Maybe this time will be different.