LETS SEE WHO LAUGHS LAST: Since November, the US has cut 10 percent of its oil exploration, and Canada, 25 percent. If this continues, the oil boom towns of Alberta, Texas, North Dakota, and Colorado may look like ghost towns. Goldman Sachs estimates prices may begin rebounding at the end of 2015. Others warn that the situation could be more like the oil price drop of 1986, which lasted about five years. Which means that TransCanada may be delighted that protesters stopped it from building a big, expensive pipeline to get now-unprofitable tar-sands oil to market.
Posted on: Fri, 16 Jan 2015 05:24:27 +0000
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