Economy Blog

Now that OPEC is playing nice with one another, at least temporarily there is lots of discussion about what price OPEC wants for crude oil. Everyone says that OPEC likes higher prices, to a point, as if there is some price at which is makes lots of money, but dissuades investments in alternatives. That’s true, to a point. But it misses something important. Predictable prices, even at higher levels, are easier to invest around than unpredictable prices. If you know, in some sense, that crude oil prices are going to be over $100 for some time, you can plan accordingly as an investor, entrepreneur, integrated oilco, etc. …
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