20.04.2015 - Researchers Warn of Global Oil Price Crisis as Investors Shy Away
The drop oil prices has changed the longstanding laws of the energy market and made investors deeply insecure about financing expensive projects in the future. The risk of a global oil crisis has increased and investors are becoming more and more cautious about financing expensive projects, according to a study by the Hamburg Research Office Energycomment, presented by the German magazine “Der Spiegel”. The researchers stated that low oil prices resulted in a drastic cut of investments in long-term energy projects, including the development of the Arctic and production of synthetic and biological fuels. Oil prices have almost halved since the summer of 2014, and currently lie below the level of 60 dollars per barrel. For the first time, the drop was caused not by an economic crisis, but tough competition in the global oil market, experts claim..........................................Full Article: Source
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