Oil Services in the Trash Bin?

While ‘peak oil’ may be delayed, or may in fact have already been reached, there is a certain inexorability to the exhaustion of fossil fuels, and as aggregate supplies decline in the years ahead, the need for more Oil and alternative energy will soar. When viewed on a three to five year basis, it is hard to imagine a sector more important to the global economy than Energy and within Energy, Energy Exploration. As a result, I decided to do a little historical homework on the Oil Service group using some of my long term index data.
My goal was to characterize the recent decline in light of the groups past high levels of volatility. In my work, I was able to go back to 1968 as a start, for a total span of 40 years. The charts that follow show graphically some of the nastiest, most concentrated declines in the history of this group.

Financial Sense