Ready for Kashagan? Petrostates Aren’t
A huge new field comes online as demand continues to dry up. The investors need to see returns, the petrodictators need money, and the US is developing in part a huge fracklog of unsold oil, and continuing to reduce the costs of production for shale oil.
Expect the price of oil to remain low indefinitely. Expect the self drive car, and other efficiencies to continue shrinking demand.
Now, if we could get past the anti nukes idiocy, and shift electrical generation increasingly to modern nuclear power generation, we could see the cost of energy plummet permanently.