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The Forum > Article Comments > Oil market showdown: can Russia outlast the Saudis? > Comments

Oil market showdown: can Russia outlast the Saudis? : Comments

By Dalan McEndree, published 21/10/2015

Yet IMF October 2015 and April 2015 World Economic Outlook projections for the Russian and Saudi economies a paint pessimistic portrait.

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Couple of questions
- why aren't we paying under $1 per litre for fuel?
- what happens when all the $50 per barrel oil is gone?
The flipside to low oil prices is that heavy importers like Australia are spared energy price inflation. An oil price of say $80 would not only help exporters but creates an incentive to find low carbon alternatives. Still waiting to see the roads crowded with electric cars.

If the oil price stays at $50 and costlier fields (offshore, fracking, tar sands) cannot be developed we might suddenly find ourselves short of fuel for even a no-growth economy. Alternatively a painful correction might ensue, hopefully not to the ~$150 price of 2008. Don't buy an SUV just yet.
Posted by Taswegian, Wednesday, 21 October 2015 8:22:20 AM
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There is a global recession and the only way to beat it is with increasingly lower energy prices. And if that means some inherently evil people (by their fruits ye shall know them) won't be able to wield as much power as they covet, so be it.

We need to include a strategy in our forward planning that sets us free from the oil barons and brokers, who currently hold the free world by the economic short and curlies!

Even if that means mining "the reef" in order to create the funds to create viable massive economy improving carbon free or neutral hugely profitable alternatives, and a better plan than selling our souls to the lowest bidder/would be foreign owner, or mining ever more coal?
Rhrosty.
Posted by Rhrosty, Wednesday, 21 October 2015 10:02:22 AM
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