Monday, November 26, 2007

Please God, not the cover.

Making the cover is usually a great contrarian signal. Not there yet, but if oil slices through $100 too easily, look out for the Man of the Year (also a contrarian signal) to be oil or alternative energy related.

Time: Peak Possibilities


In July 2006, the world's oil rigs pumped out crude at a rate of nearly 85.5 million bbl. a day. They haven't come close since, even as prices have risen from $75 to $98 per bbl. Which raises a question of potentially epochal significance: Is it all downhill from here?