Fire sale on stuff that burns: Oil, natural gas, coal down


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However, oil stockpiles at an 80-year high. Everyone who can produce oil is producing oil. If Everything is as peachy-keen as the politicians and talking heads say, then why the big rush to secure oil?

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$2.65 a gallon, is about 85yen/liter. man Japan gets screwed on fuel prices here

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Good time for carbon tax and cutting domestic subsidy (US, too), some air on balance of payments for Southern European countries, more pressure on Russian and IS.

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The price has nosedived because between the USA tremendously expanding domestic gas and oil production and China signing that gigantic deal to import natural gas (and eventually crude oil) from Russia, OPEC could see sales to its two largest customers fall dramatically. And that will create a huge glut of oil on the open market. It could get much worse if electric car battery technology really improves in the next 15 years, since transportation is a huge consumer of petroleum.

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