Quote:
Originally Posted by opendoor
We would need $800-1000 oil within the next 7-8 years to match the level of energy inflation they saw in the '70s and early '80s. That's not going to happen. We're paying less for oil now than we were 10 years ago and are currently paying the same price as 15 years ago.
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I don't think we'll see any craziness of oil in the multiple hundreds or anything, but considering that oil consumption keeps going up globally, yet there has been a material decline in exploration and investment in the sector over the last decade, I think it's a solid bet that prices for oil will see a general uptrend for the foreseeable future. You can't print energy molecules.