Thomas Paine

Thomas Paine
"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands by it now, deserves the love and thanks of man and woman."

Wednesday, 16 November 2016

World could face oil shortage by end of decade, says IEA

From the Guardian - International Energy Agency warns of future instability as low price of Brent crude deters investment in new oilfields

The world could face an oil supply shortage by the end of the decade, triggering large swings in the price of the commodity, the International Energy Agency has warned.

In its annual publication World Energy Outlook, detailing expectations for global energy trends, the IEA warned that the recent low price of oil could have serious ramifications within years.

A barrel of Brent crude has more than halved in price since early 2014 from $112 (£90) to around $44 in mid-November this year, having fallen to $32 earlier in the year amid oversupply.

The full article can be found here.

No comments:

Post a Comment