Bogota Free Planet Comments
The Next Oil Price Spike May Cripple The Industry
Posted by BFP Staff on Aug 24, 2017 at 11:17 AM
Why the price of oil actually isn't that low.
By Andreas de Vries and Dr. Salman Ghouri for Oilprice.com
Two diametrically opposed views dominate the current debate about where the oil price is heading. On the one hand, there is the view that the price of oil will be “lower for longer”, or even “lower forever”, as the electrification of transport will eat away at oil demand more and more while, at the same time, technological innovation (shale in particular) will greatly increase economically recoverable resources. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields, development of greenfields, and exploration for new resources.
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