{"id":4489,"date":"2015-01-13T15:04:47","date_gmt":"2015-01-13T20:04:47","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4489"},"modified":"2015-01-13T15:04:47","modified_gmt":"2015-01-13T20:04:47","slug":"could-the-oil-bust-last","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4489","title":{"rendered":"Could The Oil Bust Last?"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/Could-The-Oil-Bust-Last.html\" target=\"_blank\">Could The Oil Bust Last?<\/a><\/h3>\n<p>The oil industry has experienced boom and busts before, but the depths to which oil prices have plunged have surprised everyone. Could the bust now persist much longer than many think?<\/p>\n<p>It is not just oil that has seen a bust. Over the last decade and a half, the global economy has witnessed a massive commodity boom, with prices rising for all sorts of raw materials, including gold, iron ore, oil, gas, copper, wheat, corn, and more. But the commodity \u201csuper-cycle\u201d\u00a0<a href=\"http:\/\/www.wsj.com\/articles\/commodities-fall-as-stockpiles-mount-up-1421012828?autologin=y\">appears to be over<\/a>, with vast new supplies having come online in the last few years.<\/p>\n<p>As prices rose through the 2000\u2019s, multinational companies extracting all sorts of commodities planned billion dollar projects. With new mines, new oil and gas fields, and other commodity supplies hitting the market at the same time, a bust has ensued.<\/p>\n<p><a href=\"http:\/\/oilprice.com\/Energy\/Oil-Prices\/Gains-From-Low-Oil-Prices-Could-Be-Wiped-Out-This-Year.html\"><strong>Related:\u00a0Gains From Low Oil Prices Could Be Wiped Out This Year<\/strong><\/a><\/p>\n<p>\u201cSupply has been outstripping demand not because demand has been particularly weak, but because there was too much supply,\u201d Stephen Briggs, a commodities analyst at BNP Paribas SA,\u00a0<a href=\"http:\/\/www.wsj.com\/articles\/commodities-fall-as-stockpiles-mount-up-1421012828?autologin=y\">told The Wall Street Journal<\/a>. \u201cIt looks like this won\u2019t change anytime soon.\u201d<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Could The Oil Bust Last? The oil industry has experienced boom and busts before, but the depths to which oil prices have plunged have surprised everyone. Could the bust now persist much longer than many think? It is not just oil that has seen a bust. Over the last decade and a half, the global [&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":[151,366,589,1775,596],"class_list":["post-4489","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-commodities","tag-global-economy","tag-oil-demand","tag-oil-price-collapse","tag-oil-supply"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4489","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=4489"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4489\/revisions"}],"predecessor-version":[{"id":4490,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4489\/revisions\/4490"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}