Posted by Datuk Seri Rick Walker > 2020-03-10 22:38 | Report Abuse

Only few days of disagreement between Opec and Russia saw price crashed!
However, looks like they are sorting things out at the moment so oil price may stabilize!
Having said that, the reality is, usd100 oil is now a distant memory!
Why, because battery is changing that scenario! Because renewable is viable and affordable! Because Elon Musk is so aggressive that others don't want to be caught in Kodak moment!
In short, we are seeing renewable and energy storage becoming new normal! And along with it, reality that we don't need so much oil like we used to!
Compounded further that China no longer spending aggresively into it's infra! I mean, China HSR is so extensive, they don't need to build more network! China infra is actually years even decades forward compare to USA! Unless USA play catching up and repeat China rush to build latest public infra, then we don't see oil hitting usd100 ever again!
In fact we may not see oil hitting usd60! Maybe, i don't know! The reality is, there's so much oil now yet replaceable by renewable and energy storage EV!

Posted by Datuk Seri Rick Walker > 2020-03-10 22:40 | Report Abuse

By April, Elon Musk will announce his latest battery tech which may shock the world! It's basically what he did with his electric car! Now, it's going into reinvention of battery itself! Actually, big oil companies are very scare of this coming revelation!

Posted by TrippleZ > 2020-03-10 23:35 | Report Abuse

Cheap oil. Malaysian has to pay more taxes to compensate the lost revenues from cheap oil.

Posted by Datuk Seri Rick Walker > 2020-03-10 23:42 | Report Abuse

Tripple! Yeah, but i think whoever implement GST will commit suicide! It looks like it's extremely unpopular! So best to bankrupt Malaysia!

Posted by TrippleZ > 2020-03-10 23:47 | Report Abuse

Human society always go chaos when there is not enough money to distribute around. Is just part of life.