Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Brent is even higher. Oil production entered a new historic age in 2005. When marginal production like tar sands cost $80 to produce and fracking $70 it's not difficult to see where the new floor price is. We will never have cheap oil again -- though compared to its usefulness it's still very cheap. We're running out of booster rockets. What's the next stage? Sticking giant electrodes into tar sands that are powered by nuclear reactors?

Schengen is toast!
by epochepoque on Tue Jul 8th, 2014 at 08:24:28 PM EST
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