Maud Gilson
Independent Analyst
"Oil, when it rose about 100$, you then created a viable market for alternatives," says Martin Armstrong in this excerpt of our 1-hour interview with him.
He believes that oils is in a declining mode. He explains this through two conditions: the rise of alternative energies and new oil fields discoveries.
"Saudi Arabia has even now come out and say they're willing to start developping solar energy and things of this nature, because that now becomes much more common and more feasable, because the price has come down - you're seeing a lot of electronic cars that are starting to appear." Besides the rise of alternative energy options to oil, he talks about the production of oil itself that is also increasing, which is going to contribute to a lowering of the price of the barrel: "They're just suddenly finding a lot more: they found in Canada enough oil just recently I think that equals everything in the United States."
Watch our full 1-hour interview with Martin Armstrong.
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