another goodie – Heinberg

http://www.energybulletin.net/stories/2011-02-21/how-markets-may-respond-resource-scarcity-goldilocks-syndrome

key sentence:

In other words, oil prices have effectively put a cap on economic recovery.[9] This problem would not exist if the petroleum industry could just get busy and make a lot more oil, so that each unit would be cheaper. But despite its habitual use of the terms “produce” and “production,” the industry doesn’t make oil, it merely extracts the stuff from finite stores in the Earth’s crust. As we have already seen, the cheap, easy oil is gone. Economic growth is hitting the Peak Oil ceiling.
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