RE:Load of hooeyFlatter - I understand you are making a point that oil would be dead at some point in future . I can’t agree more with you because we all will be dead at some point in future including our stars and planet . But If you argue that oil would be dead in next 10-15 years then my views are different from yours. IEA forecast says oil demand will increase by modest 10% by 2030 and more or less stabilize beyond that . You may doubt the forecast accuracy (+ or - 10%) but even then it is hard to reach to conclusion that oil will be dead in near future ( unless you share some facts to indicate otherwise)
Also, you mentioned supply will always be more than demand and then asked who will survive in low price environment. I am a bit confused. They look contradicting to me because if high cost producers don’t survive then supplies will reduce and even low cost producers will be less motivated to supply at lower cost ( lower capex investment) . Reduced supply will lead to increase in price and then supply and demand will balance .
What are your thoughts ?
flanter wrote: If, and that is a big IF all the countries keep their word which would be a first, we will only have to deal with 60 million extra barrels per day for the next 3 weeks.
Once the world decides what the price of oil will be, the follow up question is who will survive in the game in a world where it is likely that supply will always outpace demand until we reach the point where the world stops using oil.
Let's face it folks, at some point in the future, it won't matter which oil or pipeline stock you own unless they are leading the way in the era of new energy sources.