[bestintxas]

Reminds me of that mindless fool Matthew Simmons who made his fortune selling this theory years ago. https://www.youtube.com/watch?v=u8BJUWKZKHM

Boy was he wrong, Shows why one should never believe predictions by investment bankers with no technical background.

Like all schills, his bigtime support for wind and ocean energy to fuel America, as well as his constant attacks on BP from its Gulf spill, were unmasked to reveal as the reason to diss the oil industry.

Technology proved him wrong, but unfortunately he never lived to see his misjudgement of new technology opening up vast horizons.

[riverdawg]

The demand for oil is price inelastic in the short run. In the long run, demanders will choose the least-cost source of energy. That might be oil, natural gas, geothermal, hydroelectric, or solar, depending on current and expected future relative prices.

[mountainlion]

Peak oil seems to be market manipulation to cause shortage and rob a bunch of consumers. Market manipulation has changed to keeping prices high in spite of plentiful supply.

[thackney]

Potential oil supply, including drawdowns from bloated inventories, exceeds demand.

Oil stocks are being drawn down, meaning more oil is going out of storage than oil is going in.

That means demand exceeds supply at current prices, not the opposite.

Stocks are not supply and it is a foolish investment advisor that tries to claim it otherwise.

[ChildOfThe60s]

To the extent that it feeds global warming, the dangers remain.

What doesn't exist cannot be caused by oil

[kidd]

With the world economy slowly recovering, why have prices collapsed?

Because the world economy isn't recovering. It has stagnated, at best.

[Freedom_Is_Not_Free]

Good article up to the Global Warming mention. Sheesh!