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Tuesday, December 18, 2012
Chris Martenson Thinks $200 Oil Is Possible
So my ideas here are that oil's an utterly non-negotiable necessity of modern life. Demand for it is going to grow further on the world stage. New oil discoveries all have a marginal cost of production that ranges from 60 bucks on the low end per barrel to 100 dollars per barrel on the high end. What this means is that my new floor, for the price of oil, is somewhere in the vicinity of $70 to $80 a barrel. That's my low end target.
Posted by Devon Shire at 6:39 PM