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In theory. Peak oil is not an energy crisis. It is a liquid fuel crisis.
How do you reconcile higher "efficiency" with higher price volatility? The "true" price can't fluctuate as much as the "market" price does, and speculators increase volatility.
So if the tracking error increases, how can you claim price signals are strengthened? Because overshoot is good? A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
