Oil’s going down, down, down

For reasons I’ve never understood, people love disaster scenarios. Tell them their portfolios will rise 7% this year and their eyes glaze. But say the world economy is teetering on the edge of an abyss and they jolt upright with excitement: “Really? Tell me more!”

The best scare story of them all has been about peak oil. At least as interpreted by many financial advisers, the peak oil theory amounts to the belief that $100-per-barrel oil is just around the corner. (All figures in U.S. dollars.) With expensive oil will come deep recession and


Well, maybe. Now that oil has plunged 20% from its summertime highs, many are rethinking peak oil