{"id":4107,"date":"2015-01-05T15:13:30","date_gmt":"2015-01-05T20:13:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4107"},"modified":"2015-01-05T15:13:30","modified_gmt":"2015-01-05T20:13:30","slug":"the-real-cause-of-low-oil-prices-interview-with-arthur-berman","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4107","title":{"rendered":"The Real Cause Of Low Oil Prices: Interview With Arthur Berman"},"content":{"rendered":"<h4><a href=\"http:\/\/oilprice.com\/Interviews\/The-Real-Cause-Of-Low-Oil-Prices-Interview-With-Arthur-Berman.html\" target=\"_blank\">The Real Cause Of Low Oil Prices: Interview With Arthur Berman<\/a><\/h4>\n<p>With all the conspiracy theories surrounding OPEC\u2019s November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. When discussing harsh truths in energy, no sector is in greater need of a reality check than renewable energy.<\/p>\n<p>In a third exclusive interview with James Stafford of\u00a0<a href=\"https:\/\/oilprice.com\/\">Oilprice.com<\/a>, energy expert Arthur Berman explores:<\/p>\n<p>&nbsp;<\/p>\n<p>\u2022 How the oil price situation came about and what was really behind OPEC\u2019s decision<br \/>\n\u2022 What the future really holds in store for U.S. shale<br \/>\n\u2022 Why the U.S. oil exports debate is nonsensical for many reasons<br \/>\n\u2022 What lessons can be learnt from the U.S. shale boom<br \/>\n\u2022 Why technology doesn\u2019t have as much of an influence on oil prices as you might think<br \/>\n\u2022 How the global energy mix is likely to change but not in the way many might have hoped<\/p>\n<p><strong>OP<\/strong>: The Current Oil Situation &#8211; What is your assessment?<\/p>\n<p><strong>Arthur Berman<\/strong>: The current situation with oil price is really very simple. Demand is down because of a high price for too long. Supply is up because of U.S. shale oil and the return of Libya\u2019s production. Decreased demand and increased supply equals low price.<\/p>\n<p>As far as Saudi Arabia and its motives, that is very simple also. The Saudis are good at money and arithmetic. Faced with the painful choice of losing money maintaining current production at $60\/barrel or taking 2 million barrels per day off the market and losing much more money\u2014it\u2019s an easy choice: take the path that is less painful. If there are secondary reasons like hurting U.S. tight oil producers or hurting Iran and Russia, that\u2019s great, but it\u2019s really just about the money.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Real Cause Of Low Oil Prices: Interview With Arthur Berman With all the conspiracy theories surrounding OPEC\u2019s November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. [&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":[3],"tags":[2434,589,1775,596,600,701,723],"class_list":["post-4107","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-arthur-berman","tag-oil-demand","tag-oil-price-collapse","tag-oil-supply","tag-opec","tag-saudi-arabia","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4107","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=4107"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4107\/revisions"}],"predecessor-version":[{"id":4108,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4107\/revisions\/4108"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}