IMO, the sudden drop in the price of oil has been engineered by the USA
as an extension of its Russian economic sanctions and as such is temporary
and will not have an appreciable effect on the will or lack of will to
replace fossil fuels with green renewables over the longer term.
It would seem that the price of oil would have to be sustained well north of $100/bbl
for economics alone to propel the fossil fuel to renewables replacement without taxpayer subsities
and the long term norm for oil price should be sustainable cost of production + 20%
and in my opinion that should be $70-$80 USD /bbl.
Moorookamick
