International Investing

Great chart and analysis from Sudden Debt:

There have been millions of pages written about Peak Oil, both pro and con, and I don’t claim to be an expert. But I do want to add just one fact based on common sense. Exxon is the world’s largest non-state oil company and the largest publicly traded corporation by market capitalization ($478 billion). If anyone has both the incentive and the resources to find and sell more oil, it is them. But they can’t. In the last five years, as the average price of oil more than tripled, their production has been flat: