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Commodities Briefing - Categorized | Oil, Price Watch more

The $5 trillion downside to lower oil prices

Posted on 29 October 2013

If oil prices fall by 25 percent or more, as some analysts predict they will next year, most Americans would cheer. But there’s a downside to $70 a barrel oil: At that price, it would become too expensive to pump the crude out of Texas’ Permian Basin, the second-richest oil field left in the world, thus derailing a $5 trillion energy boom. Joe Carroll and Edward Klump of Bloomberg explain what that means to us.
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VRS - who has written 39476 posts on Opalesque Commodities Briefing.


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