very longterm view....personally I don’t see oil recovering above $50 in the next three years.
hope I’m wrong, however.
i think we are in a global deflation rut.....
(everyone’s got an opinion...and that’s mine)
We need to get past “fossil fuels”. No such thing, like “transgender”.
http://energy.usgs.gov/GeochemistryGeophysics/GeochemistryResearch/OrganicOriginsofPetroleum.aspx
The late Dr. Michael J Economides said in 2006 at the Williston Basin Symposium in Minot that these sources would remain as listed, with renewable energy only producing a small fraction (2-3%) of the world's energy needs into the foreseeable future.