Just as Lord Bison (a.k.a. Jim Dakins) takes his finger out of the dike, and runs off in full retreat, the peak oil action gets exciting.
Marginal oil production costs are heading toward $100/barrel
Kate Mackenzie, FT Alphaville, 2 May 2012 (hat tip: Big Picture)
I hope Lord Bison remembered to bring his bolt action, and stew pot with him to his hideaway.Bernstein’s energy analysts have looked at the upstream costs for the 50 biggest listed oil producers and found that — surprise, surprise — “the era of cheap oil is over”