Peak Oil? what Peak Oil?

[Mortblanc]

Peak oil is a theory. It is an economic model, and every economic model ends with failure of the system. That is the nature of economic study and the reason economics is called "the dismal science".

That is why the collapse of the financial system is always eminent, the prediction models will always run to disaster.

Peak oil is a theory that can not predict advances in technology for the existing resource, discoveries of new sources or advances in alternate energy. It can only work with the data it had at the moment the computer enter key was pushed and run that data out to the end of existence of the resource.

As we have seen in the news, the model will work with oil, coal, cotton, maize, soy beans or any other resource. Using a set amount of resource, and use through eternity, there will always be the end result of collapse of the resource.