I've been following the energy market for about a year now and I've come to a following conclusions:
1. The era of cheap oil is at and end..and probably has been for the pst 5 years.
2. The price of oil would probably spike to 100 and fall down to 75 and stabilize there for 5-1o years. At which point it'll probably start going up again.
Let's face it, the ease of extracting crude is only going to get harder in the next 20 years.
You're right about the massive start-up costs...only a megacorp or a governement can afford it. So the only question is who has the will to seize the oppurtunity to do it.
__________________
Into terror!, Into valour!
Charge ahead! No! Never turn
Yes, it's into the fire we fly
And the devil will burn!
- Scarlett Pimpernell
1. The era of cheap oil is at and end..and probably has been for the pst 5 years.
2. The price of oil would probably spike to 100 and fall down to 75 and stabilize there for 5-1o years. At which point it'll probably start going up again.
Let's face it, the ease of extracting crude is only going to get harder in the next 20 years.
You're right about the massive start-up costs...only a megacorp or a governement can afford it. So the only question is who has the will to seize the oppurtunity to do it.
__________________
Into terror!, Into valour!
Charge ahead! No! Never turn
Yes, it's into the fire we fly
And the devil will burn!
- Scarlett Pimpernell