The Cornucopians are exuberant, they believe that collapsing of oil prices dealt the death knell for peak oil. An oil glut, they say, is what we have, not peak oil. But an oil glut is exactly what we would expect at the very peak. After all, that is what peak oil is, that is the point in time when the world produces more oil than ever in history… and the most it ever will produce.

Read more: http://tinyurl.com/mpsx8f4