re: Ann: Beach Secures $150 Million Financing... Firstly demand seems to slow when the oil price is over $65-$70. A price above that will cause an economic slowdown. Also high oil prices result in substitution with sugar, gas, electricity, coal to liquids.
It they keep the price high long term it would be detremental to the oil market. High prices also push up the prices of food and cause inflation.
We can not have food crops used to create fuel in third world countries.
Ann: Beach Secures $150 Million Financing Facilit, page-36
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