Since crude futures hit a 6 1/2-year low in late August, they have produced a pattern of higher highs and a higher low, which technicians see as a necessary, if not sufficient, characteristic of an uptrend.
Monday, November 02, 2015
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2 comments:
It's to be seen. Downward pressure on Fossil energy will only increase if prices go back up. This is good, consumers need to get free of this stuff the sooner the better. This entire Industry is deeply amoral and unethical and needs to be brought to heel sooner then later. A good start would be to apply a carbon tax to start leveling the energy field. Does it make any sense that the wealthiest most profitable Industry on Earth should still be subsidized?
Oil will not remain at $45, eventually it will move, more than likely upwards in an up and down ascent. We are not at the point where renewable energy is that prominent that it can shift oil, not yet. It will at some point but not yet. Well, as far as amoral goes, it's hard to point to many institutions that are not - the government? the church? big pharma? The problem with oil is that it remains at the center of the economy, less so here especially after the recent glut, but in other countries it's everything as we know. As far as subsidies goes, end them.
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