A meeting in Vienna to address global oil prices - the declining prices

Thought we should be celebrating- what's there to address? Low prices good
for the market!

Wait a minute; not so fast - economics! One would think falling prices are
a good think. It depends which side of the equation you are.

Nations relying exclusively or heavily on oil sales can't service
account payables and balance the books at certain low prices.

What they going to do? In the short term they may knock down supplies. That
may work for awhile but still they are not selling the right quantity.
Increasing supplies is another crazy solution - that's to compensate
falling prices with quantity sold provided there is such demand. Have to
do analysis to determine the equilibrium and +.

Global Outlook: OPEC's relevance may be on the way out with improved
extraction techniques such as fracking but also increased oil exploration
nations. Also the drum beat of alternative energy besides carbon based.
Increased efficiency in oil use also contributed to reduction in overall
demand.

Long Term - diversify your national economies.

Gambia was left scrambling when prices of peanut fall at the market and
alternatives were developed for what was the exclusively peanut's.

Change is the only constant!

Burama


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