Interesting idea. Has some merit in that the a priori effect of real global productive investment falling due to whose hands the flows were in matches some of the experiences.
If these previous beneficiaries of the oil price lottery are desperately dumping luxury assets and draining their sovereign wealth funds, how soon till one of these nations dumps their gold onto the market to get in before the rush?
The article assumes that low oil prices are here to stay. Global oil production tends to fall in the medium to long term without sufficient exploration/development investment. From what I've read the oil majors (BP, Exxon etc) have not been investing as much in the last year. Also, there are plenty of warning signs of lack about less finance in shale oil drilling, as required to replace depleted wells.