OPEC's Cuts Can't Fight Global Recession Headwinds [View article]
OPEC members have an interest in keeping a share of the energy market. Crude oil in the less than $70 range will discourage alternative energy development therefore do not be too happy about lower prices.
Crude oil in range of $80 makes tar sands and alternative energy sources possible.
Demand is now down but the battle for long term reasonably priced fossil energy sources will continue. Lower prices mean the public companies will pull back and the nationally owned companies (China, India, Russia) will continue pursuing energy for the future and public companies will take second place.
-
OPEC members have an interest in keeping a share of the energy market. Crude oil in the less than $70 range will discourage alternative energy development therefore do not be too happy about lower prices.
Oct 25 09:47 am
|Rating:
0
0
All Comments by satch63 »OPEC's Cuts Can't Fight Global Recession Headwinds [View article]
Crude oil in range of $80 makes tar sands and alternative energy sources possible.
Demand is now down but the battle for long term reasonably priced fossil energy sources will continue.
Lower prices mean the public companies will pull back and the nationally owned companies (China, India, Russia) will continue pursuing energy for the future and public companies will take second place.