What are the economic indicators to watch for to give some idea when the price of oil will significantly fall in price and have a serious effect on the lowering of production of oil thus effecting the world wide day rates for drilling rigs?For how long do econmists forcast the high price of oil to continue?
Oil is controlled by a cartel called OPEC. OPEC is endorsed by everyone who has interest in oil. Politicians have interest in oil since they have interest in businesses that pay for them to be in power. Why would the cartel want prices to fall???? They don't .... so the price wont without major eco-political reconstructionFor how long do econmists forcast the high price of oil to continue?
Do you really believe what they say: and you went to college? Love your intelligence. Sorry
In the long run oil prices will continue to rise as long as demand for oil increases and supply of oil decreases. The demand for oil, as well as the price, will only be likely to drop if other energy alternatives are largely utilized such as ethanol, hydrogen, coal etc.
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