As long as OPEC controls more than 40% of global oil production and has the ability to dictate global supply levels through production targets, it will continue to have a major influence on oil prices.
What a Fool believes
As much as we want to take control of our energy future, there are just some factors that are out of our control. Unfortunately, several of those factors are working against us, and it’s very unlikely we will ever see cheap oil again.
Coming back to Mr. Yergin: “The starting point for energy security today, as it has always been, is diversification of supplies and sources.” Certainly wise advise for energy policy, and investment strategy.
The article 3 Factors Dramatically Affecting the Price of Oil originally appeared on Fool.com is written by Tyler Crowe.
Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool.The Motley Fool recommends Total and owns shares of Apache.
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