Forecast on the next oil crisis where politics and economy in unique incomprehensible decisions go full throttle straight against the wall.
Accoring to the testimony of the Energy Watch Group autumn 2007 was peak-oik autumn 2006. In the area of the peak is all very flat. So the price development from autumn 2007 to July 2008 showed slightly increasing demand and slightly decreasing supply, what leaded to $147 record price per barrel.
Gentle price increase over 9 month
As shocking the price increase from $70 to $147 in 9 month was, it was in fact gentle. This because it is flat in the peak area. The oil production decreased soft.
The first fossil recession may have decreased oil demand by 8 million barrel a day. It's only a question of time until the next conflict between demand and production.
Autumn 2007 to June 2008 was a gentle touch between supply and demand. The next collision will not be in the flat peak area, but where it is step downwards. Many conventional oil saving methods like slower big ships are already used up.
We are heading to a brutal crash. Many governments will not stand this. So there are hectic activities at PEGE to sketch the golden Weste V2.0.