05-19-2015, 11:07 PM
Note: the Peak oil isn't dead interview with Chris Nelder is a 2 year old article.
I found this paragraph reflects the consensus view UNTIL oil was crushed down to $43/barrel this year... We shall see who's right - Goldman or Nelder - going forward....
CN: A number of analysts have argued that the floor on oil prices is now around $85 per barrel. It might vary from place to place. An existing well in the Bakken might be profitable when oil's at $70 or $75. For Arctic drilling, prices might have to rise to $110 per barrel. But the floor is around $85.
I found this paragraph reflects the consensus view UNTIL oil was crushed down to $43/barrel this year... We shall see who's right - Goldman or Nelder - going forward....
CN: A number of analysts have argued that the floor on oil prices is now around $85 per barrel. It might vary from place to place. An existing well in the Bakken might be profitable when oil's at $70 or $75. For Arctic drilling, prices might have to rise to $110 per barrel. But the floor is around $85.