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Dicker — Oil Stuck Below $80? No Way, or Global Collapse Is Coming

The International Energy Agency has released its yearly energy report, including their projections on oil prices.

As usual, their predictions are laughable. For the rest of the decade, they do not see oil prices rising above $80 a barrel. In their low-price oil scenario, they don't see oil prices rising above $80 until 2020.

They ought to predict a global economic meltdown to go along with it. The consequences of that kind of extended low oil price that the IEA predicts would not only bankrupt every oil company in the world, but also several sovereign nations. You could almost guarantee a global depression as a result.

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Before explaining why the IEA must be wrong...