Bloomberg: For OPEC, This Year's Painful Oil Slump Will Bring Gains in 2016
With consumption set to grow by 1.4 million barrels a day...
Saturday, August 29, 2015
Oil
The article is written for the oil company investor which by my guess would be almost anyone with equities, 401K's, pensions, a bank account, and virtually any one thing related to money - in other words, everyone. However from the point of view of CO2 emissions, global warming, and baking in an even greater PPM that exceeds 400, this is disastrous news. Clearly nothing is underway to curtail oil usage with consumption expected to increase by 1.4 million barrels a day in the next year.
Bloomberg: For OPEC, This Year's Painful Oil Slump Will Bring Gains in 2016
Bloomberg: For OPEC, This Year's Painful Oil Slump Will Bring Gains in 2016
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2 comments:
Great news cheap oil is back. Oh right this will probably mean the death of human civilization, not so good news. Does anyone care? Apparently not enough to do anything meaningful about it.
Apparently not, as we learn more and more about the consequences of increasing CO2 in the atmosphere, the world is simultaneously increasing its consumption of oil. Now with oil around $40 a barrel and set to go lower, it's cheaper to burn the oil then develop green alternatives. I hate this policy decision by the Saudis, to pump more and more but it's not just the Saudis it's the world.
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