$500 oil and a much lower price would make alternate sources of energy very desirable and cheaper. Just $150 oil drives a faster evolution of energy alternatives. Oil producing nations don't want alternatives to oil taking away their market share. The oil dinosaurs will price their oil barrel so they don't become extinct and allow more efficient forms of energy to evolve.
I wonder if the 'expert' noticed demand falling when oil touched $147?
american expert predicts 500 dollar oil, page-9
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