Reply to "Exxon’s investment decision for Liza Phase-2 delayed -as gov’t plans scrutiny of field development plan"

PrashadSenior Member

America needs 19.6 million barrels of oil a day. If they are now producing 11 million barrels per day. The future does not look good for world oil producers. These factors will also influence oil prices in the future.

1. The electric car growth will further reduce oil need in the future.

2. When the Texas Permian Basin comes on board with its low-cost oil production it will be a killer.

3. Shale oil production is getting cheaper.

4. Western Canadian select (dirty oil) is now dirt cheap.

5. Solar energy is getting cheaper.

11/26/182:14 AM

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