DEBRIS.COMgood for a laugh, or possibly an aneurysm

David Lazarus reads between the lines of the recent Unocal acquisition and sees the Hubbert Peak. In a piece called ChevronTexaco’s CEO banking on peak oil situation, he reasons:

Because Unocal’s stock has soared 75 percent over the past year, the thinking goes, ChevronTexaco could find itself with a white elephant on its hands if currently sky-high oil prices end up coming back to earth.

Well, I’m prepared to say this much: [ChevronTexaco CEO David] O’Reilly isn’t stupid. He knows more than most people about world oil markets.

So if [he] is prepared to gamble more than 16 billion bucks on oil prices staying at stratospheric levels, I’m ready to give him the benefit of the doubt.

And reading between the lines, that means only one thing.

Peak oil.

Local gas prices topped $2.75/gallon recently. Is there any reason to believe they’ll go down?

I predict a run on crappy old Mercedes and BMW diesels, as greasecar conversions become mainstream. As ridiculous as it sounds that your neighbors will begin collecting discarded fry oil from the local fish ‘n’ chips for home filtering, it sounds even more ridiculous that the entire population of the country will happily pay $10 per gallon for gas.