Jim Letourneau's Blog

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Cheap Oil Forever?

While looking for something interesting to read at Heathrow, the cover of Newsweek caught my attention with this headline...


Why prices will keep on falling - and falling

Perhaps this marks a turning point and we will never see oil prices this low again.

So far we have always been able to find new supplies of oil  - as long as the price was high enough. On the other hand we do live in a finite world. Population and energy consumption can't keep doubling forever... but how far can they go?