Can’t predict the future, but $4/gallon sure seems to be a lot SMALLER issue for the MSM this election year than it was in 08.
no one alive today will see peak oil
Will reality negate another stupid liberal fantasy?
World proven reserves and projected peak production are vastly underestimated as the new fracking techniques have been little used in most regions outside of North America. Even in North America expoitation of these is only a small fraction of the known potential.
I am reasonably sure that there is plenty of oil in East Asia and the Middle East and that production can be vastly increased in both regions.
No, but fracking did.
It appears that has already been repaired.
Kurds Confirm Initial Oil Payment from Baghdad
The Kurdistan Regional Government (KRG), confirmed Monday that it had received an initial $547 million payment. "We can confirm receipt by the KRG of the first portion of the money which is 650 billion Iraqi dinars Baghdad will pay the KRG IQD1 trillion, some IQD650 billion out of which will be paid now, while the remaining IQD350 billion will be paid either by the end of this year or the beginning of 2013, depending on the central government's budgetary procedures. This agreement comes after KRG suspended crude oil exports of nearly 100,000 barrels a day in April, citing a $1.5 billion backlog owed by Baghdad.