Political Peak Oil: Price Spikes to $100 on Nigerian Unrest

[robertpaulsen]

Political Peak Oil: Price Spikes to $100 on Nigerian Unrest
When Supplies are This Tight, Human Violence Breeds Price Volatility

By Dan Shapley

In Nigeria, six armed men killed four policemen and three civilians before being killed themselves. The nation's oil infrastructure wasn't damaged, and the flow of oil wasn't disrupted.

But the unrest helped send oil futures soaring to $100 a barrel, where the price continues to hover in the first day of trading of 2008.

This is peak oil.

No, it's not that we've pumped up every drop of crude oil that million-year-old plankton provided for us. Not necessarily. This isn't geologic peak oil. It's political peak oil.

http://www.thedailygreen.com/environmental-news/latest/political-peak-oil-47010209

I would agree with a caveat: it may be both!