Running on empty?

Stephen Leeb edits an investment newsletter. Unsurprisingly, his new book, The Coming Economic Crisis, advises readers on what to buy and what to avoid "when oil costs $200 a barrel," which he predicts that it soon will.

Leeb cites geologist M. King Hubbert, who correctly forecast in the 1950s that oil production in the U.S. would peak in the early 1970s. Leeb thinks that Saudi Arabia, with the world's largest proven reserves, is now at or close to its peak production.
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