Put it Where it Belongs

The writing was on the wall for a long time.

High prices coupled with advanced technology, drove man to the reclusive oil's refuge. Technology did not stop at the drill bit end but it worked tirelessly to harvest alternate resources of energy. Not only did it address the supply side, technology also worked to restrain the demand by tweaking machines and procedures for optimizing the use of energy.

...And the result was, today we are living in a world awash in oil. But yet the oil prices remain resilient. The obvious reasons being China, India and availability of cheap money in the market. Upside on world's future energy demand is anybody's guess. But the benefit of this nervousness has been going directly to Russia and some terrorist organisations in the Middle-East. Probably sensing the looming danger, good sense has prevailed over and now we are seeing a definite down trend in the oil prices in line with the supply & demand. I see further downside over the next year. Though we may see a spike for a brief period this winter.

'Eighty' should be a modest number over medium to long term provided no blockage.