The cost-price relation: Indicative prices after Guyana’s oil comes on stream
Introduction Today’s column addresses price, in the cost-price relation that Guyana’s oil and gas ‘discovery’ will likely encounter, after it comes on stream 5-7 years from today. Like last week’s treatment of cost in the relation, today’s treatment is also indicative. This underscores the difficulty of determining oil prices so far into the future. Economists…