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Business Insider said the U.S. shale boom and flagging demand have killed the peak oil theory.

It said plateau oil and gas is the new thing.

Overall, U.S. oil production will soon hit 12 million barrels of oil and equivalent a day, the publication said.

And gas prices will stabilize at about $3.50 and stay there for ‘the foreseeable future,’ according to ‘Business Insider.

The U.S. will be pumping about 70 billion cubic feet of natural gas, and consumption will level at about 90 billion cubic feet a day.