USD$20 per barrel? Some guess it will drop to USD$10 per barrel?
www.ft.com
www.wsj.com
These 2 above reports say $20 per barrel.
Then Reuters report says different
sg.news.yahoo.com
This report says $2 per gallon.
1 barrel = 42 US gallons of oil. Which means $84 per barrel.
There is a lot of difference. One of the news reports is wrong - probably the one from Reuters.
So I guess the standard of journalism is not what it used to be.
This is artificially manipulated. In a price war Saudi Vs Russia.
Oil is not only for powering ships, planes and motor vehicles.
Components of Oil are needed for lots of materials to make a wide range of products.
Oil is a fossil fuel that takes millions of years to form.
Oil is a wasting asset. Once you use it up, it is gone forever.
Humans cannot afford to wait another few million years for new Oil to be formed.
Depleting reserves could become a pressing issue 50-100 years from now.
Then the price of Oil will sky rocket to very high.
Wars will be fought over Oil.
Nations will be invaded (on a pretext) because they have Oil.
Electric cars - hmm... maybe in the long run.
Although Tesla, BYD and others like Volvo have made electric cars.
It is still a very long way before all the vehicles (in the whole world) using internal combustion engines are replaced by electric vehicles.
Especially for very heavy tonnage goods transport trucks such as Scania and Isuzu. They are just starting to look into it.
You need something to generate that electricity.
If not nuclear, then another fuel?
Hydro electric dams are not a good idea. Too many dams destroy the rivers and the eco-system downstream.
Electric planes? Don't hold your breath. No one will dare to fly in one as a passenger.
US crude oil price falls below $20
Fall in demand due to virus creates surplus that risks overwhelming storage capacity
Energy Crisis Intensifies as Oil Tumbles to 18-Year Low
The oil crash deepened, sending prices to an 18-year low in a stark demonstration of how the coronavirus is crippling fuel demand and leaving consumers unable to take advantage at the pump.
www.wsj.com
These 2 above reports say $20 per barrel.
Then Reuters report says different
Gasoline's average price falls below $2 a gallon
The average retail price for a gallon of gasoline in the United States fell below $2 a gallon on Tuesday, the American Automobile Association said. Nationwide, the average price for gasoline stands at $1.997 per gallon, having dropped by 45 cents in the past month as demand plummeted amid the...
sg.news.yahoo.com
This report says $2 per gallon.
1 barrel = 42 US gallons of oil. Which means $84 per barrel.
There is a lot of difference. One of the news reports is wrong - probably the one from Reuters.
So I guess the standard of journalism is not what it used to be.
This is artificially manipulated. In a price war Saudi Vs Russia.
Oil is not only for powering ships, planes and motor vehicles.
Components of Oil are needed for lots of materials to make a wide range of products.
Oil is a fossil fuel that takes millions of years to form.
Oil is a wasting asset. Once you use it up, it is gone forever.
Humans cannot afford to wait another few million years for new Oil to be formed.
Depleting reserves could become a pressing issue 50-100 years from now.
Then the price of Oil will sky rocket to very high.
Wars will be fought over Oil.
Nations will be invaded (on a pretext) because they have Oil.
Electric cars - hmm... maybe in the long run.
Although Tesla, BYD and others like Volvo have made electric cars.
It is still a very long way before all the vehicles (in the whole world) using internal combustion engines are replaced by electric vehicles.
Especially for very heavy tonnage goods transport trucks such as Scania and Isuzu. They are just starting to look into it.
You need something to generate that electricity.
If not nuclear, then another fuel?
Hydro electric dams are not a good idea. Too many dams destroy the rivers and the eco-system downstream.
Electric planes? Don't hold your breath. No one will dare to fly in one as a passenger.
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