POLITICS OF OIL:Will crude oil prices go low enough and for long enough to become the final nails in the coffin of the Keystone XL pipeline? The answer just might be yes, but not for the reasons that might be assumed. Soaring production in the United States, slack international demand and increased fuel efficiency have produced a glut in the past few weeks that has left the benchmark WTI grade bouncing around $80 a barrel. Futures markets are pointing even lower and some analysts, most recently Goldman Sachs, are predicting a price of $75 or even less in the months ahead. insideclimatenews.org/carbon-copy/20141028/keystone-xl-will-fail-obamas-climate-test-if-plunge-oil-prices-persists
Posted on: Tue, 28 Oct 2014 17:23:49 +0000