...too many unknowns for the oil price equation (yes, I am an engineer). All in all for us, average Joes, pump price is the main concern. EIA published their short-term energy outlook for 2014. The report predict a drop both in retail and wholesale prices with increasing US oil production. On the other hand, nobody wants to give a clear answer to the question of peak oil. As the numbers go, we know that new discoveries are constantly falling behind of increase in demand at least for the past years (Personal Note: I couldn't find two different sources to agree on numbers). In my humble opinion we are already lacking to meet demand but it is not a pleasant piece of information for the public so it is better not to speak of it...
