The next step down in oil prices is coming? The MAP predicts $25 oil for 2019. We might just get $25 oil this year. That would be the end for the oil industry?
17 months with the price of WTI over the MAP and 17 months without much growth.
The world is getting poorer.
BahamasEd wrote:17 months with the price of WTI over the MAP
Was 2018 The Peak For Crude Oil Production?
The good news is that Venezuela doesn't have old decaying nuclear power plants.
They don't have nuclear, they don't have hydro, and they don't have oil.
how about getting your facts straight?
Venezuela doesn't have nuclear, doesn't have oil and doesn't have hydro, and we know that because the lights are out! Anymore minor facts you are having trouble getting your head wrapped around?
In other words their EROI is now zero, but according to your argument that since oil companies never consider EROI, that is completely irrelevant.
The oil price broke down from its rising wedge today. The bounce from the collapse in Nov-Dec is over.
The global economy is slowing down. Bond yields are falling, inverting, going negative.
Deflation is coming. Energy is the key (EROEI).
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