Infrastructure is real issue affecting oil prices

IN JUST two months this fall, the price of crude oil plummeted from its peak of $77 US per barrel to just $57. Crude has recently rebounded to the $62 range. Were speculators who predicted $100 per barrel oil off track?

The world is awash in crude oil and OPEC is cutting back production. So what happened to the peak-oil theorists who spread doom and gloom about the world running out of oil?