Post-peak Oil: volatile prices and lower quality fossil fuels
The post-peak world does not in itself imply the end of the Oil Age, but merely the shift toward unconventional sources of oil and gas. This, however, also implies a transition to a new era of lower energy quality from fossil fuels. In this new era, oil prices are inherently volatile, because the supply and demand dynamics of the new oil era are different to what we’ve been used to in the age of cheap crude.