Re:Oil Falls Below $40 for First Time Since 2009 as Glut Grows
by makomk on Friday August 21, 2015 @07:13PM
(#10100813)
This is why the idea that the free market will solve global warming doesn't stand up. We need to leave a huge amount of oil in the ground, it's in the financial interest of oil producers to make sure that doesn't happen, and the price of extraction is low enough that many of them can sell it dirt cheap to ensure it all goes. Indeed, I've seen arguments that the Saudis are driving down the price in part because they've noticed renewables are about to undercut them and want to make sure that doesn't happen.
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Re:Oil Falls Below $40 for First Time Since 2009 as Glut Grows
by caminante on Friday August 21, 2015 @08:37PM
(#10101058)
> This is why the idea that the free market will solve global warming doesn't stand up...
Regardless of your suggested approach to solve global warming, I suggest you reconsider your reasoning. There's a limit as to how much oil companies can extract and remain profitable. To that point, oil storage utilization is at a historic high with new investments at a historic low.
Re:Oil Falls Below $40 for First Time Since 2009 as Glut Grows
by crdoconnor on Saturday August 22, 2015 @12:14AM
(#10101472)
>This is why the idea that the free market will solve global warming doesn't stand up.
The idea that there's such a thing as a 'free market' at all doesn't stand up. It's a mythical beast.