As Oil Prices Fall, Who Wins And Who Loses?
Technology and Program Coordinator – Smart Energy Initiative
Despite ongoing conflicts in the Middle East, oil prices are now at a seven year low — good for consumers and a blow to some of the West’s most worrisome geopolitical adversaries. But on a greater scale, weak oil markets represent global economic uncertainty and the potential for volatility that affects businesses vulnerable to the global oil markets:
“We’ve had a three-year period of very stable oil prices,” Michael Levi of the Council on Foreign Relations told NPR’s All Things Considered. “Three years is a long time. People were starting to believe that this was permanent. And they were wrong. So the big news is that volatility is back, that big swings are what we should expect.”‘
Is your organization subject to this vulnerability? If so you should evaluate the feasibility of converting your fleet to compressed natural gas (CNG). Grant funding is available through the Pennsylvania Department of Environmental Protection to help offset the costs of purchasing CNG vehicles or converting existing fleets. Email me for more information.