> It's a lot more interesting to actually look at the mechanisms

Yes, and that's why I read TFA. And it was interesting. My point still stands, however, that every previous doom prediction has been wrong.

All of the predictions I see are of the type, “If nothing changes and reserves are depleted, prices will spike to very high levels.” We have yet to bottom out reserves, so yeah, prices have yet to hit record levels, but we are moving there day by day. There was a lot of slack oil in the system before this started, but it can only last so long.