Peak oil was a big concern 10 years ago when the price seemed to only go up. But after hitting $147 a barrel in 2008, oil has lost almost two-thirds of its value and many now believe that proponents of peak oil, like T. Boone Pickens, have been proven wrong. Bruce Pile says Pickens was right, but the shale oil boom has deferred an era of chronic high oil prices. If you missed the last oil price boom, you may get a do-over. How often does that happen?
Peak oil was a big concern 10 years ago when the price seemed to only go up. But after hitting $147 a barrel in 2008, oil has lost almost two-thirds of its value and many now believe that proponents of peak oil, like T. Boone Pickens, have been proven wrong. Bruce Pile says Pickens was right, but the shale oil boom has deferred an era of chronic high oil prices. If you missed the last oil price boom, you may get a do-over. How often does that happen?
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