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[–] The_Exodite 0 points 2 points (+2|-0) ago 

Author seems to be ignoring the Iranians coming online and the Saudis oversupplying and undercutting in an effort to break North American and Russian production.

Very one dimensional analysis.

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[–] senpaithatignoresyou 0 points 1 point (+1|-0) ago 

They do these, when they want to dump their holdings before anyone else....

The problem is that the banks made a lot of risky loans to oil companies, and took oil as a collateral. Now they are stuck with some upside down loans, again.

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[–] daskapitalist 0 points 3 points (+3|-0) ago 

I dont know why anyone ever took "peak oil" seriously. If a resource is crucial, either we will always have enough of it...or we'll convert to something else if it becomes rare enough to substantially push its price up.