05 July 2008

In 1998, Colin Campbell coauthored with Jean H. Laherrère an article about the end of cheap oil which was published in Scientific American. According to Laherrère, they were considered crazy when they published that article because oil was averaging about $12/barrel - dirt cheap. Who would have thought back then that oil would hover around $140 today? Certainly not The Economist. Afterall, they wrote in 1999:

The world is awash with the stuff, and it is likely to remain so...$10 might actually be too optimistic. We may beheading for $5. Link
Here is Colin Campbell in a 2005 interview. He was right about the end of cheap oil in 1998, and it is only appropriate that we pay attention to what he has to say. Video link.