CNBC/Oriel Morrison/05-24-17
The world as we know it, will be no longer. The balance of power on a global scale will shift. All in the next decade.
…”Oil demand will peak 2021-2020 and will go down 100 million barrels, to 70 million barrels within 10 years. And what that means, the new equilibrium price is going to be $25, and if you produce oil and you can’t compete at $25, essentially you are holding stranded assets,” Seba said.
“At $25 a barrel, that means deep-water, sands, shell oil, fields, most are going to be stranded, and also all the refineries and pipelines associated with these expensive oils are also going to be stranded. And that is going to reshape worldwide oil, geopolitics and so on.”
