Nope, my money still rides on Peak Oil theory. If the earth’s core was filled with cheap oil, there is no way any company would spend huge dollars extracting oil from expensive oil sands, oil shale, and deep ocean wells. Cheap oil is all but gone. There still are lots of reserves but at much higher costs to extract and refine. $100 / barrel oil will look cheap in the not so distant future. World energy demands are increasing at an alarming rate. China, India, Pakistan, just to name a few countries are just starting to increase their energy demands – and still they are only a fraction of the consumption that North America uses. Where will they be at in the next 10 years? 20 years? 50 years? Will these countries pay huge dollars as the price of oil continues to increase as suggested by simple supply vs. demand graphs? What if peak oil is real (and I can’t see how it can’t be) and supply is already at its peak (or past)? I believe these countries, along with western countries, will look for alternative energy sources.