Oil Hits Seven Year High

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Oil Hits Seven Year High.


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  1. is the USA still releasing oil from the strategic reserve to lower prices or did they stop that now? I know towards the end of last year they decided to release some to lower prices, maybe this is just because they have stopped releasing oil?

  2. When you understand that for the last 6 years there has been almost no investment in new O&G projects and the reservoirs have a natural decline, there will be a reduction in the worldwide O&G production. Coupled this with an increased demand (winter in northern hemisphere) it is the perfect environment for price increase.
    Unfortunately renewables are no there (yet) to cover the shortfall.

  3. Spot on governments around the world with their environmental policy green tape fantasy about renewables is why. Like you said the numbers don't lie and were not living in Hollywood.

  4. Most major car manufactures have committed to be producing nothing but electric vehicles within a decade or so. Oil is a old tech, and its time while not over is defiantly coming to a close. Unfortunately renewables simply aren't ready to carry the load as yet nor have the infrastructure to do so given it takes decades to roll out worldwide. They are also unreliable in a crisis event.

  5. I can see it now, can you imagine how cheap petrol will be in the near future, as they compete to keep internal combustion engine (ICE) cars selling – they are not going to want a mass exodus to electric vehicles, so they will have little choice but to lure them with a low price….
    Should be a good time to be driving an ICE vehicle one would think in the near future…

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