“An Oracle of Oil Predicts $200-a-Barrel Crude” The headline was in the NY Times on May 21, 2008. Because the prediction came from a Goldman Sachs analyst who had been right about $100 a barrel oil when no one thought that…
Low oil prices have rippled through the world economy in some surprising ways… 1. Piracy in West Africa’s Gulf of Guinea No longer worth the risk and complexity for $30 or $40 oil, the number of oil vessel attacks are down. 2. College…
Following the law of supply, U.S. shale oil firms will lower output because OPEC is letting price plummet but airlines on demand side like lower prices.
Faced with rising prices and pressure to increase production what should OPEC (the Organization of Petroleum Exporting Countries) do? They could not agree. Why? Maybe it’s the prisoners’ dilemma. Picture for a moment 2 (guilty) suspects. Questioned by the police,…
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