I don't think we're going to see the price of oil going down in the near future, that's the reality.
Sentiment: NEGATIVE
I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.
Oil prices have certainly become a threat for the world economy.
The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.
We have seen a strong increase in oil prices and up to this year we see that the world has been able to absorb that.
We need a reasonable price where producers will not start nagging. At a reasonable price, we can invest to produce more oil.
Even if the economy crashes, we will still burn oil.
Interestingly, the oil companies know very well that in less than 30 years they will not only be charging very high prices, but that they will be uncompetitive with renewables.
Our oil problems are only going to get worse. Our trade balance is only going to get worse. So we have to slow the growth of U.S. oil consumption, particularly imported oil consumption.
If you opened up every single potential drilling opportunity in the United States, it would have the effect of lowering gas prices three cents, maybe. And that's because, of course, oil is traded on a global market.
We will work to bring an element of stability to the price of oil.
No opposing quotes found.