Wed, 4 March 2015
There is, Foreign Policy Magazine Senior Reporter for global energy issues Keith Johnson told KSFR's Dave Marash on HERE AND THERE, a consensus on oil prices, they will stay between 30 to 50% lower than last summer's peak for at least the next 5 years or more. But Johnson says, even with this price outlook, the future of the fast-growing American oil industry, and especially the part based in Southeastern New Mexico, looks pretty secure. Russia, says Johnson is being hit with an energy industry double-whammy. Falling prices have hurt the Russian budget and sanctions have cut the Russians off from markets, capital, and the technologies they need to develop new sources of gas and oil.