Peak Oil

[tradersam]

Many of us heard about the Peak Oil theory and probably rushed to buy oil while it was skyrocketing last year. But, when the recession hit, the price plummeted. (Hopefully everyone had sold beforehand!)

So, did this disprove the Peak Oil theory? Is there enough supply to meet demand for a long time, or was the price collapse the opposite of an artificial bubble and soon the price will jump again?

[EvElyN]

The crude is still over 70.00, after an attack on a Shell oil duct in Nigeria, which raises concerns about the supply in the region….

It's important to highlight that according to a Reuters survey to industry members, the crude average prices would be over 70.00 in 2010. The average prices for this year pointed to 56.59.