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Page added on May 30, 2008

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In Light of Peak Oil, Financial Diversification Is a Bad Idea

For US investors, the realities of peak oil mean the following: energy prices will continue on an upward climb and therefore inflation will follow. The massive devaluation of the US dollar since Bush took office (>50%) will simply exacerbate the problem since oil is traded the world over in US dollars (at least for now!). As readers are aware, I have often commented that the US dollar has been replaced as the world’s “reserve currency” by a barrel of oil.

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