Why Are Oil Prices Falling? Putin? Something Else?

A colleague just sent me this: “The story should not be how falling oil prices will impact the shift to clean energy, it should be how the shift to clean energy is impacting the oil price.” – Michael Liebreich, chairman of the advisory board at Bloomberg New Energy Finance

I wish this were true, but it isn’t.  You and I know that oil/diesel represents 98% of the world’s transportation fuel and it will be a very long time until that is impacted materially. You and I are both trying to move that day forward in time as much as possible, but it’s not right around the corner.

Of course, most people don’t know that, though it’s hard to understand how the chairman of the advisory board of anything, even a chain of hardware stores or hamburger restaurants, could say that.