Oil Price Slide – No Good Way Out

6 11 2014

Our Finite World

The world is in a dangerous place now. A large share of oil sellers need the revenue from oil sales. They have to continue producing, regardless of how low oil prices go unless they are stopped by bankruptcy, revolution, or something else that gives them a very clear signal to stop. Producers of oil from US shale are in this category, as are most oil exporters, including many of the OPEC countries and Russia.

Some large oil companies, such as Shell and ExxonMobil, decided even before the recent drop in prices that they couldn’t make money by developing available producible resources at then-available prices, likely around $100 barrel. See my post, Beginning of the End? Oil Companies Cut Back on Spending. These large companies are in the process of trying to sell off acreage, if they can find someone to buy it. Their actions will eventually lead to a drop…

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2 responses

7 11 2014
bev

the obvious has been stated anyone who is in any business is there for the express purpose of selling product for profit. and until those who use hysteria bit the bullet the oil issue will persist, what affordable solution is there on the board to replace the modes of transport we have all use fossil fuels.

this peak oil hype been going for at least a decade now and apart from going back to horse drawn vehicles the eggheads have nothing affordable to offer no real alternative, apart from their desire that it all just grinds to a halt, and in that they can’t see that they too will suffer the pain

time to move away from the fear hype, get real

7 11 2014
mikestasse

We offer no alternatives because………. THERE ARE NONE?

And who’s afraid anyway? Not me…….

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