Saudi Arabia, US Shales Oil and the Russian and Iranian Economies

Energy Crisis As Early As 2016

By Oilprice.com -- Dan Steffens—— Bio and Archives--January 6, 2015

Global Warming-Energy-Environment | Comments | Back To Full Article

Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline prices doubling within 18 months. For a commodity as critical to our standard of living as oil is, it only takes a small shortage to drive up the price.

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