A significant fall in oil price is likely!

It is only a few years since belief in the concept of peak oil provided the grim prospect of a world where oil was at its point of maximum production  and a decline was imminent with the expectation that oil prices would escalate. But now the whole world energy scene has changed with fracking technology making available vast amounts of formerly inaccessible hydrocarbons.  This changes the balance of energy supply and demand.  For example the USA is expected to become not only self-sufficient in energy but to become a significant exporter within a few years and there are significant implications for other nations who are either net energy consumers or providers.… Continue reading

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