October 2014

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Long-term Chart of Crude Oil – Beginning of the End for Oil

The price has a long way to go back down. Reasons 1) electricity powered vehicules, which a) China is pushing, which b) Tesla is pushing, which c) countries everywhere are pushing. Solar power, nuclear power will most probably eat into sales of crude oil. Add to that, that larger powers don’t have any advantage if Russia and Arab nations sell them expensive energy when technology allows for cleaner or domestic solutions.