Originally Posted by
Elvis90
HEARD ON THE STREET: OPEC Hawks Should Play the Long Game - WSJ.com
You need a WSJ subscription to view the full article, but it essentially states that due to the weak economy in Europe, OPEC will have to keep its target price of oil low (<$80/barrel) in order to preserve demand (future business). Otherwise many consumers, public & private,
may permanently turn to alternative forms of energy.
Zakaria: The game-changer in the geopolitics of energy – Global Public Square - CNN.com Blogs
My favorite part of the article:
We've become the world's lowest-cost producer of natural gas at a cost of $2 per thousand cubic feet; compare that with many European countries which have to pay seven times as much to Russia.
It's increasingly possible to use liquified natural gas as a substitute for oil as a transportation fuel, so the effects go beyond generating electricity. General Motors is planning to produce cars that can take natural gas or oil in their fuel tanks.
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I may actually see my dream of being able to tell some overseas oil producing countries to take their oil and stick it where the sun don't shine
Ferd