Low oil prices are here to stay as the US shale oil revolution goes global | Marcellus Minutes
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Low oil prices are here to stay as the US shale oil revolution goes global

Oil price rises over the past 40 years have been truly spectacular, but the recent fall is probably here to stay, thanks to increasing production. We discuss these trends in our new book, The Price of Oil, published this month.

In constant money, prices rose by almost 900% between 1970-72 and 2011-13. This can be compared with a 68% real increase for a metals and minerals price index, comprising a commodity group that, like oil, is exhaustible.

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