$50 Oil Doesn't Work
Submitted by Gail Tverberg via Our Finite World blog,
$50 per barrel oil is clearly less impossible to live with than $30 per barrel oil, because most businesses cannot make a profit with $30 per barrel oil. But is $50 per barrel oil helpful?
I would argue that it really is not.
When oil was over $100 per barrel, human beings in many countries were getting the benefit of most of that high oil price: