Generally speaking, most common peanut butters have enough preservatives to keep if they're left out. If you're using natural peanut butter, it will keep for a few days after it has been refrigerated, but then begins a long, slow, decline in flavor.
I never refrigerate peanut butter and have never had it spoil (go rancid). If I do refrigerate peanut butter, it is too stiff to use but on a spoon as a snack (which is not bad, actually).
I do the same as trekincat, and I've never had a problem either. As for the comment about 'natural' peanut butter, I believe gab's comment would hold true also.
Peanut butter doesn't need to be refrigerated, I never have, and it lasts months on my pantry shelf. I'd leave it out of the fridge, chilled it must be harder than heck to spread.
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