It is more complicated. Oil is maybe running down in 2080.. in 2020 maybe it will hurt, it has been oversupplied for the last few years because the price has been kept high by all the speculators and there are small oil fields coming online everywhere = small amounts of cheaper local oil. Many small oil fields have 100's of years of slow flowing oil.
The price has to be kept above $60-$70 or these small operators will shut down and the oil price will skyrocket again... its pretty simple really.
Airline fuel will take longer to get cheaper than petrol because refineries would go broke if they produced to much, but it is still good for airlines.. $150 crude for too long and they would all fold.
Eventually oil will be mostly replaced by cheap batteries, but it will take 5 years to replace all the cars if it had to be done fast... and cheap batteries may take another 10 years to develop.
I joined this forum in 2004 and this is my second post, ramping will get you nowhere except a psychiatric ward, rofl.
Just that ppl don't understand, so take extreme views or views out of context.
Cheap Oil=Bad Expensive Oil=Bad
VBA Price at posting:
28.7¢ Sentiment: LT Buy Disclosure: Held
