If Supply is LESS than Demand,
PRICE goes Up and Up !!
Look at the big jump in price starting from 2004 to 2008 !
Then listen to this Dr HIrch on youtube, posted in 2008, talking about Oil hitting $500 just before it crash
AND in the same video HE talks about PEAK OIL happening in 2004 !Just before the BIG RUN UP in OIL price !!
Take a look at the other chart that shows the Shortfall of OIL rising from 1980 to 2009
And the other chart that shows the divergence of Supply and Demand starting 2004.
2004 ?? Peak Oil ?? or somebody just turn to tap off while Asia, namely China is rampaging ahead chalking up double digit economic growth ??
[oops..sorry, its Thousands of Barrels Per Year]
Ok, here Dr Hirch says he is a student of the market he says he is not predicting but put OIL at $500 per barrel JUST before the OIL CRASH !
He talks about Peak Oil in 2004 just BEFORE the RUN UP !!
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