Tom Duong

1 Comment

    • On Oil Prices: Time to Confront Reality [view article]
      Bravo Mr Lee.

      The factors contributing to oil prices rising are obvious but because we are so accustomed to such low translated prices at the pumps compared to the rest of the world, we choose to ignore the "truth."

      Supply and demand is the heart of the issue; especially from the perspective that access to easy supplies (reserves) is gone and the demand grows non-linearly. While I think speculators contribute to some of the erratic short-term changes in energy prices, long-term prices are reflecting the peak global production, geopolitics, access to reserves, and additional demand scenarios as two billion people in developing nations transition from poverty towards fully developed economies, among others.

      Secondly, I would add that climate change is going to play a greater role in energy prices going forward. In some E&P companies, this shadow cost is starting to be an economic factor in oil development projects and will be a factor throughout the energy lifecycle.       May 14 02:41 PM
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