Oil Age Coming to an End


Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#1
Recently announced SA oil company is going to have an IPO. Could it possibly be that they know the tank is about empty? What other reason could there be for this turn of events? Why are they doing this now? If I were Singaporean I might be watching this event very closely.
 

hanzohattori

Senior Member
Apr 16, 2010
999
5
18
#2
they still have plenty of oil.. the problem is that alternative energy sources are abundant so they cant price it like it used to be.
so they want to wean the economy off oil dependency.
 

Zenten

Deregistered
Jun 13, 2004
9,845
8
38
#3
I never thought we would see the day when having too much crude oil becomes a problem................. :)
 

Yutaka Go

Senior Member
May 22, 2010
983
7
18
SG
#4
I never thought we would see the day when having too much crude oil becomes a problem................. :)
The cost of extracting the crude oil is very high, they need oil price at more than $100 per barrel to remain profitable.

However, no oil production country want to cut production due to many reasons.
 

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