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Interesting times for the energy economics and geopolitics. If people believe that solar(renewable energy) is getting cheaper, the prices of the oil is drop fas
by __Joker 10y ago
Interesting times for the energy economics and geopolitics. If people believe that solar(renewable energy) is getting cheaper, the prices of the oil is drop faster. And you don't want to keep holding to oil when the music stops.
I would argue this trend is showing off. The oil producing countries pumping out their oil, because they don't see value reducing the capacity, while the oil prices are historically low.
- masklinn 10y ago> And you don't want to keep holding to oil when the music stops. Or you want to be the only one holding to accessible oil, and pretty much sole provider of oil for plastics and other non-fuel petrochemical products.
- __Joker 10y agoYes. Still OPEC cartel doesn't seems to be working, neither does any kind monopoly. Given the wide and often conflicting interest between the oil producers I like to view this as less probable outcome.