Peak Oil Forecasters Win Converts on Wall Street to $200 Crude

That’s not the prophecy of some apocalyptic cult. Kadijk, a hedge fund adviser, had flown from Amsterdam to attend a conference on a geologic theory known as peak oil.

Proponents of this controversial idea say global oil production is now at or near its zenith. Once the flow crests and starts to decline — and some geologists say it already has — oil will no longer be able to slake the world’s growing thirst for energy. The result will be the oil shock to end all oil shocks. The price of a barrel of crude will spiral to $200 — and keep rising. To the peaksters, today’s energy crunch is nothing next to the pain that will follow.

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