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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (68206)	1/28/2016 3:36:25 PM
From: Ahda	Respond to of 86355

I am sure storage has become a problem.

To: russet who wrote (68206)	1/29/2016 7:25:21 AM
From: Eric	Read Replies (1) \| Respond to of 86355

So what is the right price for oil? The chart above, from this ICIS article by fellow blogger Paul Hodges, is helpful in trying to answer this question. It shows that the long-term average price of crude since 1861 until 2013 was actually just $30 a barrel, inflation adjusted. You would be unwise to not at least build $30 a barrel into your scenario planning. You would be very, very unwise to not plan for extreme volatility in oil prices over the next few months and years as the world adjusts to its New Normal - whatever you think that New Normal is. oilandgasinvestor.com