Shocked by gasoline pump prices? Food prices? Commodity prices? Now that oil production has reportedly peaked, our transition to an age more dependent on electric energy and energy storage seems inevitable, right? Well, not in a free market, ponders Hugh Sharman.
The US Energy Information Administration (EIA) and the International Energy Administration (IEA) recently released a disheartening report plotting monthly data, gleaned over the last six years, detailing oil extraction and production around the world.
Readers will note the two moving averages appear to be asymptotic.
If this new data really does signify the long expected . . .
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