New Economic Perspectives has the post The Danger Of Low Oil Prices For The Global Economy.
For lack of something better to quote, here is one excerpt.
My view is that crude oil is in a long downslide, in the short-term giving way to natural gas, and in the longer-run giving way to wind and solar and batteries and stuff like that. Alternative energy is coming on much faster than expected. And also most people think that alternative energy requires subsidies. No it doesn’t. It doesn’t. It is now cheaper.
Alternative energy didm’t need subsidies at $100/barrel oil. I wonder if that is still true at $30/barrel oil.
In the past, the sharp drop in oil prices help cut off the shift to alternative energy. The shift may now be too far along for falling oil prices to have the same effect it used to have.
For those of us with some investments in oil and related industries, there is some very valuable information in this article. I am just having a hard time figuring out what and where that value is.