Peak Oil versus Peak Medicare

The people who insist on alternatives to oil like solar and wind are insistent for a number of reasons; there's the global warming scam, there's the dependence on foreign oil and the money supporting questionable countries with questionable motivations, and then there's the worry over peak oil. Ah, peak oil. Proven reserves, the theory goes, have peaked and production will ultimately start to decline as we have reached the right hand side of the production bell curve. Here's some news for those of you who are so desperate to see a future of windmill-powered cars. You are as wrong about peak oil as you are about Medicare being untouchable.

Crude Oil Prices - Just a Spike?

Crude oil prices are currently sitting at $107 per barrel.  That's high, but a lot of reports in the media have called it a spike.  Is it a spike?  Maybe.  I went back into history and got some data from Inflation Data on both nominal and inflation adjusted crude oil prices since 1946.  It doesn't look like a spike, it looks more like a trend, even where the inflation adjustment is available, prices are almost uniformly uni-directional.