A person often reads that low oil prices–for example, $30 per barrel oil prices–will stimulate the economy, and the economy will soon bounce back. What is wrong with this story? A lot of things, as I see it…
How important is oil to the future of the global economy?
Could the price of oil be a value such that the current quantity produced exceeds the current quantity consumed?
2014 was one of the worst in over six decades for major new oil discoveries, even though oil prices were high for most of the year.
A midweek roundup. After a five-session losing streak, oil prices reversed on Wednesday, climbing about a dollar a barrel in New York and London to close at $58.98 and $65.03 respectively
For a long time, there has been a belief that the decline in oil supply will come by way of high oil prices. Demand will exceed supply. It seems to me that this view is backward–the decline in supply will come through low oil prices.
OK. Which curve on this chart is not like the others? It’s the U.S. and Canada’s oil production curve over the past several years.
It’s déjà vu all over again: another oil “supply shock.” Seems like we’ve had one every few weeks for the past few months.
How far the oil price will come down and for how long it will stay “low” is now anyone’s guess. A declining price results from weakening demand while supplies are improving.
In this installment we discuss the potential role of renewable energy in transition and macroeconomic models in the face of supply constraints.
Steven Kopits, Managing Director, Douglas-Westwood talks peak oil and oil markets.
It is well to remember that none of people making forecasts can know the one thing they all desperately want to know: the future.