Peak coal points way for peak oil

TS Lombard with sounds analysis:

Until not that long ago, the idea was still taken seriously that peak oil would be supply-side driven and triggered by sky-high prices: but as it is now clear that the oil case will resemble all previous energy transitions, useful lessons may be had from the most recent such precedent–peak coal.

The first such lesson is the lack of a linear relationship between falling demand (the underlying driver) and falling prices. The main reason for this is decreasing investment in new supply getting out of sync with decreasing demand.

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