The technicals point to a very clear cyclical turning point in the oil price. The sooner we can move away from funding blood-soaked petro-state dictatorships, the better. And as oil falls, inflation will fall too. Of course, oil is falling because the global recession is starting to bite . . . .
Meanwhile, EV/PHEV sales globally are averaging 925K compared with 25K in H1: 2014. For reference, total world car/light truck sales are ±70 million annually. Have we passed peak oil?
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