I’m not impressed. Peak Oil Theory assumes that perfect capitalist market forces exist in the oil industry, and therefore oil production will be limited by the availability of oil.
The fact is, oil production has for decades been limited by cartels (OPEC is the best-known, but oil companies in other regions collude as well). This is done in order to drive up prices, influence trade and pursue political agendas.
Nobody, including David Rutledge, knows better than the oil cartels what the remaining reserves are. And the oil cartels will price their product accordingly.
