Hey Peak Oilers...

[morphball]

Is the black gold still going to run out? In spite of the price slide, OPEC sees no need to cut production. I wonder why.

Could it be that they know 1) Higher prices will just bring new resevoirs on-line sooner; 2) alternative sources were catching up fast; and 3) there's still a lot of oil around and high prices now will destroy the demand before they can sell it?