Into The Grey Zone The future is always a grey zone, never black and white.

The Financial Crisis was NOT caused by Peak Oil

Tom, over at TOD and now at TAE, keeps harping that the financial crisis was caused by volatility in oil prices. I admit that he has show correlation but heck, I can show correlation between number of churches in a city and number of murders, while there is no causation at work at all. (Both are simply symptoms of higher population, for those wondering.)

I've seen lots of yackity-yack about the correlation but nothing at all that proves causation. And that is where Tom has fallen down hard. He seems so enamored of peak oil that if there is a correlation he assumes that it must mean causation rather than simply being symptomatic.

I wonder what other folks think of that entire discussion?