Quote from: TDoS on Today at 11:24 AMAs far as "predicting" anything, if he drew the lines with post 2015 data and then stated his conclusion, that isn't a prediction. It is an observation, coupled in this case with a bad conclusion, drawn from historical data. If he used this chart pre-2015 to predict the drop in oil prices, that would be different.
No, this is just a recent chart, he started producing them back in around 2011-12 as I recall. They all came before the price collapse. I find it remarkable you managed to miss them and him, since I regularly cross posted his blogs and did numerous podcasts with him. Here's one with me, Steve and Ugo.
As to his current price point of $125 on production, that has changed, you'd have to ask him why. I suspect it's a price point for new discoveries, not an average for all production. $60 on consumption is different as well now, used to be $80 as I recall. Credit situation has worsened, obviously.
RE