Reply #3: Lots of really smart people in China. [View All]

[brokensymmetry]

Maybe they know a little something called "peak oil".

Maybe they've noticed that the second largest field - Cantarell -
has peaked and is in sharp decline. Perhaps rumors that the big
Saudi field - Gwahar - are peaking are valid. And maybe - just
maybe - the theory that we're on an undulating plateau for a few
years, one that will result in wild price swings - is correct.

If that's true, things are likely to get nasty around about
2008, and worse still be 2012.

But what the hey. We've gotta focus on Anna Nicole, right?