The article is written with a date of April 1, 2021, and it shows Brent Crude hitting $150.00 per barrel. With oil having a hard time hitting $60 present day, it’s not hard to imagine the world being in shock at the outlook of $150.00.
The factors he discussed leading to a huge rise in oil prices include:
- Lack of investment in exploration
- End of easy money and rise in interest rates
- Saudi Aramco IPO
- Continued growth in oil demand
- Financial speculation
He writes on “The confluence of these 5 separate developments over a short period of time has been behind the unrelenting rise in oil prices.” And like most near-future science fiction, it’s very rooted in reality.
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