Archived The global oil price drop may last for the next couple decades, Stanford economist says (news.stanford.edu)
submitted ago by lofalexandria
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Archived on: 2/12/2017 1:51:00 AM
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Archived The global oil price drop may last for the next couple decades, Stanford economist says (news.stanford.edu)
submitted ago by lofalexandria
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[–] Fatcock 0 points 1 point 1 point (+1|-0) ago
One thing this article doesn't mention is the role of speculators. They have been driving prices up for the past decade and now it seems the bubble has popped. Recently there have been quite a few news stories about how US oil companies have been running out of storage space. A large portion of that is from speculators that gambled on holding back oil supplies from the market to reap a huge profit later. With all the new innovation in oils exploration and extraction, these people have been forced to sell lest they be bankrupted.