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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices above $100 are good for America

Posted on 18 October 2013

Our nation once feared the day oil prices would hit $100 per barrel. Today, however, we’ve come to find that price to be more than acceptable. In fact, according to Peter Voser, the CEO of Royal Dutch Shell , an oil price of $100 is a pretty good value. I’d even go so far as to say it’s a good price for America because it’s one that is critical to funding our current oil boom.
Complex production is expensive: In suggesting that $100 oil is a good value for oil to be these days, Voser pointed to one very important fact. He said that, “If you look long term, the oil price in our opinion will rise because it will be technically speaking more complex to develop resources.”……………………………………….Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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