Oil production stalled at about 86 million barrels a day back in late 2004. From 2004-2008 consumption rose in the east by about 9 million barrels a day. So who was getting shorted oil if we were not producing anymore? In early 2008 food riots broke out all over the third world because oil IS food. Global growth started killing off the 3rd world as the richer nations grew there economies and need more oil.
Peak Oil IS the fiat killer because our monetary needs energy growth to continue and gold knows this. Fiat is a grow or die system and their is NO MORE growth. 1 year or 10 years it’s over.
