Oil Age Coming to an End

[Nikonzen]

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]

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]

I never thought we would see the day when having too much crude oil becomes a problem.................

 

[Yutaka Go]

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.