It’s not only the world oil growth engine thats going to slow. The entire world economy is going to slow and much of it is going into recession – a recession the end of which many of us are not going to see. I am in my fifties and I am aware that nothing in my life is ever going to be the way it was before. Change is frightening and changes for the worse is incredibly frightening but we need to clean up our societies, our politics, our way to look at the world and our credulity to narratives left and right. Every crisis has a silver lining and so does this one. many won’t see it.
Even with crude above $100 a barrel, producers in the Permian and other U.S. shale basins are riding the brakes.