What's going in oil field seems it will not end as simple as that ..IMO ..
Eventually oil will reach 20$ and will stay there for long time till shale productions in US shuts down .and if that happen US will be in deep trouble ..if that not to happen US will start some gimmick like war on OPEC countries to make them to cut production ..need to wait and watch .
Eventually oil will reach 20$ and will stay there for long time till shale productions in US shuts down .and if that happen US will be in deep trouble ..if that not to happen US will start some gimmick like war on OPEC countries to make them to cut production ..need to wait and watch .
Within 3 years elctric vehicles will start making 5 to 10 % of US market within a decade they will be 30 to 50 percent.
US will not wait till oil is going to be completely depleted from earth.
US is very aggressive in going for renewable energy projects.
China is also aggressive. India is doing too but very little.
Some of the European country are already 100% renewable.
These are the reason oil is going down because the future demand is bleak not because of present condition.(along with higher supply of course)