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Indeed that is the expectation, but to be more specific however they won't keep over producing forever. Oil prices won't be low forever and western oil interest
by rubyfan 11y ago
Indeed that is the expectation, but to be more specific however they won't keep over producing forever. Oil prices won't be low forever and western oil interests should be claiming rights on new wells that will produce for a long time to come.
Also I am curious, do you have evidence that suggests consumption is shifting away from oil to renewables?
- mschuster91 11y agoYeah of course, just look at the rise of solar e.g. in Germany. Thanks to Chinese price dumping, solar cells are cheap as f..k now. Already, gas plants are shut down in Germany and only kept alive as "backup plants" (of course by the consumer who pays extra fees)
- rubyfan 11y agoAny citation? Since I'm not in Germany the anecdote is lost on me.