During the “energy crisis” of 2006, we wrote the following Wall Street Journal commentary, hoping to calm fears of “peak oil” and other nonsense that often accompanies big price swings. We said oil prices likely would recede. We said vast stores of oil, especially in shale, were about to be found and extracted. We said alternative energy schemes in part justified by high oil prices were a bad idea. We also said a big financial disruption was likely. Continue reading . . .