01-02-2017, 01:53 AM
(12-29-2016, 01:42 PM)Benton Wrote: ... that OPEC would probably keep prices lower for at least 2-4 more years trying to keep the shale industry from gaining any more ground.
Not even that - fossil fuels have a limited shelf life. Natural gas, windmills and other alternative sources are all chipping away....and in the next 30-50 years we'll have economically viable fusion reactors and then nuclear and fossil fuels are dead.
I don't think a single cutback has ever held with OPEC - they have always more or less pumped as much as they could sell. And they haven't really been able to control the price of oil for at least 2+ decades.
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