Nearly everyone believes that oil prices will trend higher and higher, allowing increasing amounts of oil to be extracted. This belief is based on the observation that the cost of extraction is trending higher and higher. If we are to continue to have oil, we will need to pay the ever-higher cost of extraction. Either […]

via Our Finite World http://ourfiniteworld.com/2013/11/15/whats-ahead-lower-oil-prices-despite-higher-extraction-cost/