And This Is The Problem With Peak Oil -- November 21, 2015

This is the problem with "peak oil."

Is it really "peak oil" when operators quit drilling for oil because there is so much oil floating on the high seas they can't sell it all?

This was actually posted by "Peak Oil Barrel."

In this article, John Kemp notes:

There are roughly 650 very large crude carriers (VLCCs) plying the seas with a total carrying capacity of around 1.3 billion barrels of crude oil. If roughly half are filled with crude, while the other half are in ballast on the return journey, that would imply another 650 million barrels of crude in transit.

Hundreds of millions more barrels of crude are in transit in smaller Suezmax and Aframax vessels plus millions of barrels of refined fuels in transit by tanker.

Peak Oil? I hardly think so.