According to the Detroit News
Hmmm. Tha sounds familiar. Where have I heard that before?
The Hubbert peak theory, also known as peak oil, is an influential theory concerning the long-term rate of conventional oil and other fossil fuels production and depletion. It predicts that future world oil production will soon reach a peak and then rapidly decline.
You see, it's not that there's not enough oil, hell, we just gained control of the second largest known oil reserve in the world, otherwise known as Iraq, it's that we aren't refining it fast enough to meet demand.
"There is plenty of oil, and oil prices are well below their record highs," he said. "It's that we're not getting oil made into gas fast enough."
Look for the oil companies to blame this on environmentalists, or someone else other than their ownseves for not sinking those record profits from last quarter into building more refineries. But why should they? Paying less for oil and gouging, excuse me, charging us more for it just means that many more golden parachutes for retiring oil executives.
As for me, I'm planning on walking more, or maybe winning that Harley~Davidson at the company picnic next month.