BOE’s Carney Paving His Way for the Next Job Position, Should Keep Oil Prices Bullish

• Financial services have been too slow to cut investment in fossil fuels
• A delay could lead to a sharp increase in global temperatures
• The concern is whether we will spend another decade doing worthy things but it is not enough

So, less financing for fossil fuel. This looks like trouble for crude oil production, but it will be a headache for shale oil production instead. Shale production is very fragile when it comes to financing because the production costs are sort of high already and it is profitable if oil prices are above $50/barrel. If financing costs increase, then say goodbye to shale oil. That will help oil prices move higher, which is a bonus for Saudi Arabia and Russia.