Madzia71/E+ via Getty Images Determining a direction for crude oil ( CL1:COM ) prices remains a head scratcher or is it a chicken scratching endeavor. Defenses, for any position so dearly held, abounds. In a weaker United States demand marketplace, prices have wondered.
For some, their opinion suggests over reactions to the downside like chickens in a frenzy hungrily waiting for the feed. For others, the price exaggerates itself on the north side. We have to wonder how much political influence exists especially on the downside.
This article continues our discussion of crude oil pricing, the last issued in April, Crude Oil Prices Turn North Following Long-Term Fundamentals . So, we ask, is it narrative driven or an honest reflection of reality? Shall we all head to the backyard or is it the coop for further observation? Grab your sun hat and basket of feed. It will be necessary for this warm and sunny afternoon.
Fossil Dominance But first, it is important to understand the elephant in the room. Fossil sources dominate the landscape. From Oilprice, " At a time when the peak of "green" virtue signaling has come and gone, we regret to inform you that all that jawboning and posturing has achieved.
.. absolutely nothing because according to the Statistical Review of World Energy report released on Thursday, global fossil fuel consumption and energy emissions hit all-time highs in 2023 (even as fossil fuels' share of the global energy mix decreased slightly on the year).
For us, the .
