When it comes to trading, Peak Oil, so far, hasn't played a role in my decisions. Most are not aware of it or wrongly assume it is about oil vanishing and so draw the conclusion that it is nothing to seriously consider. It doesn't affect the market - yet.
This severe global recession obviously has put a damper on demand as well. I will be trading oil soon, likely after this fall when we have a better idea which countries may start emerging from this recession. I don't see a quick recovery anytime soon - but let's say there is one - investing in oil will be a no brainer.
My concern is that over the next 5-10 years or even sooner, we don't find any major fields, and the gulf countries can't produce what they have promised. Then Oil will go through the roof, and a feedback will result - economies will get crushed and oil will drop again. The world is not prepared. In my opinion, transition technologies/fuels should have been instituted as soon as India and China started being major oil consumers. That's about 3 billion people waiting to get their share and we have done nothing to prepare.