[–] The_Exodite 0 points 2 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.
[–] senpaithatignoresyou 0 points 1 point 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.
[–] daskapitalist 0 points 3 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.