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4min chapter
Commodity Prices Are Due For A Severe Correction, Says Mike McGlone
Forward Guidance
The Peak Oil Argument on a Historical Basis Has Not Had a Good Track Record
The forward curve where the price of current oil is more expensive than oil in the future is called backwardation. This happens a lot in natural gas, and it's clearly happening in crude oil. It was very bullish earlier this year, but now it's kind of weakening. The peak oil argument on a historical basis has not had a good track record.
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