Let's Get Real

There has been happy talk about oil recently. So much happy talk that I wondered when reality would strike. The combination of BP's Tiber well and the ongoing development of Brazil's Tupi field have been used to suggest that all this talk of Peak Oil is really a modern day tale of Chicken Little. In this case, the falling sky is falling oil production. Even the New York Times recently

The Ghost Fleet and the Credit Contraction

And you thought the US Navy was big? Check this out and then connect the dots. Should you need any help, this article about the credit contraction may help. This contraction is why my brother is out of a job. How's your job holding up? How long before those ships start sailing again?