The investment bank is not making the argument for a peak in world oil production as this quote from the report shows:
We believe oil markets may have entered the early stages of what we have referred to as a "super spike" period -- a multi-year trading band of oil prices high enough to meaningfully reduce energy consumption and recreate a spare capacity cushion only after which will lower energy prices return.(Comments are open to all. See the list of environmental blogs on my sidebar.)
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