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Discussion in 'TSLA Investor Discussions' started by gavine, Feb 5, 2015.
What that article fails to acknowledge is that OPEC no longer has the same degree of control over oil prices that it has in the 80's and 90's.
Of course one of the top guys in OPEC wants to see sky high oil prices come back, so he talks that up. He is hardly an unbiased observer.
At some point in the future oil prices will go up significantly. When, no one can say with any accuracy.
You know I saw this in another thread. What a strange title. The quoted him directly "if you don't invest in oil and gas, you will see more than $200." I think his point was more that oil and gas still needs investment so it isn't like we can stop investing and have enough oil.
That's right it's a conditional statement. Chevron is estimating $7 - $10 T needed to devolop 200B barrel capacity for the next 15 years. Not that this is a capex cost of $35 - $50 per barrel. Beyond that you've got another $25 - $40 of opex to get the oil from well to market. Putting that together the next 200B barrels require a price well north of $80 to motivate development.