The new hype is to say that the end of the oil age is near. In the long run, the importance of oil will diminish, write Peter Simon Vargha, Chief Economist at Hungarian oil and gas company MOL and his colleague Csaba Pogonyi, but before that some good years for oil are likely. Just as high prices reduced the likely future demand for oil, low prices will probably prolong its use. … [Read more...]
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