What markets are telling us about future energy prices

I am borrowing this shamelessly from an Oil Drum thread (and more specifically from a comment by substr4ct, but it's such a telling graph that it's worth flagging and circulating widely (see below).

Until very recently, and at least since the mid 80s, i.e. basically since we have futures markets in oil, the expectations on long term price of oil were extraordinarily stable - at around 20$/bl.

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