Cognitive dissonance manifests itself when people instinctively refuse to acknowledge objective, new information that goes counter their strongly-held positions, so if Questor changed his mind on peak oil, he is actually overcoming CD here, not succumbing from it.
You doomer guys are refusing to acknowledge this objective reality:
![[Image: 47965133_14897233293872_rId15.png]](https://static.seekingalpha.com/uploads/2017/3/47965133_14897233293872_rId15.png)
1- shale oil production prices are dropping fast due to new tech and process improvements
2- the quantity of recoverable shale oil discovered in the past decade is huge. What was inaccessible 10 years ago is a lot less than what is today, and most probably, a lot less than what will be accessible in a decade or two.
3- the investments already in place have resulted in an industry that is resilient and can withstand if not thrive in a $50 oil environment.
You doomer guys are refusing to acknowledge this objective reality:
1- shale oil production prices are dropping fast due to new tech and process improvements
2- the quantity of recoverable shale oil discovered in the past decade is huge. What was inaccessible 10 years ago is a lot less than what is today, and most probably, a lot less than what will be accessible in a decade or two.
3- the investments already in place have resulted in an industry that is resilient and can withstand if not thrive in a $50 oil environment.
“Nothing is more useful than to look upon the world as it really is.”