Hype Kills; Crude Oil Edition

Remember the ‘Peak Oil’ hype that was promoted far and wide as trend followers disguised as financial analysts exalted the likes of T Boone Pickens, Jim Rogers and a host of commodity/resource gurus?  Websites sprung up far and wide seizing this opportunity to promote a viewpoint that was flat out wrong.

There was no ‘Peak Oil’.  What there was was a commodity bubble and inflation hysteria based on the readily apparent effects of inflation at the time.    Only one entity that I know of was debunking this promotion in real time (outside of my occasional bitching and moaning about it) and that was Prechter’s EWI.

What a disaster for anyone who bought the orthodoxy.

wtic.brent.crude