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News Link • Energy

Peak Oil Is Dead

• Business Insider

They're not alone.

Last month, the BNY Mellon's asset management subsidiary, the Boston Company, published a paper called "End of an Era: The Death of Peak Oil." AOL Energy's Peter Gardett pointed us to it.

In brief, peak oil theory argues that oil production will peak, then fall sending prices surging. Ultimately, supply is unable to meet demand and prices become unbearable, sending the global economy to the edge.

The team, led by Robin Wehbé, makes arguments similar to Kleinman and Morse's: the rise of natural gas as an alternative fuel to oil, combined with increasing fuel efficiency, is causing crude demand to sink.

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