One of These Things Is Not Like The Others: IEA’s January Report
Remember the Sesame Street song?
One of these things is not like the others,
One of these things just doesn’t belong,
Can you tell which thing is not like the others
By the time I finish my song?
OK. Which curve on this chart is not like the others?
(click image to enlarge)
It’s the U.S. and Canada’s oil production curve over the past several years.
That’s why oil prices have fallen: too much oil for the demand in the world. The tight oil from North America is the prime suspect in the production surplus that’s pushing down oil prices.
Now that you know the answer, let’s talk about IEA’s January report that was released today. Here are my main takes from the report:
…click on the above link to read the rest of the article…
