André Sautou

Is 'Peak Oil' Already Affecting the Stock Market?

Like Hirsh, a lot of ordinary citizens think that there will come a time when oil scarcity will hobble the economy so severely that the stock market will crash and that it will no longer be profitable to own any stocks, even energy stocks. There is no need to be an expert to understand that. You just have to remark that 1°/ economic growth is fed by the growth of energy production, 2°/ sooner or later energy production will reach a summit and then decline and 3°/ a stock market needing expansion to remain viable will obviously crash (or maybe have crashed already) when expansion reverses into contraction.