I guess that, if I read it often enough, I really will get my head around this: oil companies are now set to have most of their investment, and production, in North America, Europe, and Australia. That's right, folks, we genuinely seem to be on the verge of kicking Hajji and His Merry Explosive Friends to the curb. And, the thing is, the reason why this new production is expensive now is because the companies are paying off all their R&D expenses. Once those are gone, prices will drop, and fast.

I always knew peak oil was full of hooey. I had no idea the proof would be found in North Dakota, Alberta, and off the coast of Western Australia.