"The era of cheap oil has ended”.
Here we go again. Last time oil got to around USD160 a barrel, where will we go this time? And oil at that price means any economic recovery will stall.
Don’t forget this will impact the price of coal and food. Coal = oil (ie SASOL). Food = oil (ie biofuels). And all of these exacerbate climate change. For South Africa, you can guarantee electricity prices will continue to rise dramatically.
Frank
http://www.busrep.co.za/index.php?from=rss_&fArticleId=5111083
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