Energy ‘Tsunamis’ Could Mean $10 Oil lweb.es/f2473 12.20.2016
The oil industry must brace for five energy “tsunamis” that threaten to drag prices as low as $10 a barrel in less than a decade, according to Thierry Lepercq, head of research, technology and innovation at Engie SA. The falling cost of solar power and battery storage, rising sales of electric vehicles, increasingly “smart” buildings and cheap hydrogen will all weigh on crude: “Even if oil demand continues to climb until 2025, its price could drop to $10 if markets anticipate a significant fall in demand.”