{"id":3043,"date":"2014-12-15T15:34:53","date_gmt":"2014-12-15T20:34:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3043"},"modified":"2014-12-15T15:34:53","modified_gmt":"2014-12-15T20:34:53","slug":"resource-insights-the-high-cost-of-low-priced-oil","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3043","title":{"rendered":"Resource Insights: The high cost of low-priced oil"},"content":{"rendered":"<p><a href=\"http:\/\/resourceinsights.blogspot.ca\/2014\/12\/the-high-cost-of-low-priced-oil.html\">Resource Insights: The high cost of low-priced oil<\/a>.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">As a consumer of oil, you may regard recent sharp declines in the world oil price as a blessing. But&#8230;<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">If you work in the oil industry, you will not.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">If you work in the renewable energy industry, you will not.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">If you work in the energy efficiency business, you will not.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">If you work to address climate change, you will not.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">If you have investments in the oil industry (and nearly everyone does through pensions or 401k plans), you will not.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">If you live in a country that exports a lot of oil (not just Saudi Arabia, but\u00a0<a style=\"color: #cc6600; text-decoration: none;\" href=\"http:\/\/www.economist.com\/news\/finance-and-economics\/21636106-two-decades-after-peso-crisis-mexico-faces-new-shocks-pass-tequila\">Mexico<\/a>,\u00a0<a style=\"color: #cc6600; text-decoration: none;\" href=\"http:\/\/business.financialpost.com\/2014\/12\/12\/with-oil-trading-below-us60-provinces-brace-for-impact-of-global-oil-price-shock\/\">Canada<\/a>\u00a0and\u00a0<a style=\"color: #cc6600; text-decoration: none;\" href=\"http:\/\/www.csmonitor.com\/Environment\/Energy-Voices\/2014\/1208\/Low-oil-prices-are-bad-news-for-Norway\">Norway<\/a>,\u00a0too), you will not.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">The declining price of oil is supposed to have a balanced ledger of winners and losers. But we may be on our way to finding out that in the long run we will have a much larger list of losers than winners.<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\">And, the list will lengthen if the price continues to fall, and especially if it stays down for a long time. (Low prices are not necessarily an indication of future abundance. Remember that oil reached $35 a barrel at the end of 2008 before returning to record average daily prices in 2011, 2012 and 2013.)<\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\"><!-- [if gte mso 9]><xml>\n <w:WordDocument>\n  <w:Zoom>0<\/w:Zoom>\n  <w:DisplayHorizontalDrawingGridEvery>0<\/w:DisplayHorizontalDrawingGridEvery>\n  <w:DisplayVerticalDrawingGridEvery>0<\/w:DisplayVerticalDrawingGridEvery>\n  <w:UseMarginsForDrawingGridOrigin\/>\n <\/w:WordDocument>\n<\/xml><![endif]--> <!--StartFragment--><\/p>\n<p class=\"MsoNormal\"><a name=\"OLE_LINK1\"><\/a><span style=\"font-size: 13.0pt; font-family: LucidaGrande; color: #282828;\">&#8230;click on the above link to read the rest of the article&#8230;<\/span><\/p>\n<p style=\"line-height: 1.6em; margin: 0px 0px 0.75em 0px;\"><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Resource Insights: The high cost of low-priced oil. As a consumer of oil, you may regard recent sharp declines in the world oil price as a blessing. But&#8230; If you work in the oil industry, you will not. If you work in the renewable energy industry, you will not. If you work in the energy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[592,1775,674,723,798],"class_list":["post-3043","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-oil-price","tag-oil-price-collapse","tag-renewable-energy","tag-shale-oil","tag-tight-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3043"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3043\/revisions"}],"predecessor-version":[{"id":3044,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3043\/revisions\/3044"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}