HOUSTON, TX--(Marketwired - January 22, 2016) - As the price of oil continues its steep decline, the question hanging in the air is, "When will things finally begin to level out?" One Houston energy attorney believes the good old days of robust oil prices are a thing of the past.
"The price per barrel has ticked upward a bit over the last few days, as world markets have rallied on news of the likelihood of more stimulus from the world's central banks," said Bradford J. Gilde of Gilde Law Firm. "But the current market is flooded with cheap oil, and demand is soft. That will only be exacerbated as economic sanctions on Iran are lifted and that country begins to export its own oil under the parameters of the recently signed nuclear agreement. This, along with the current mood of fear and uncertainty about the future of oil, will keep prices swimming around at the bottom for a long while, if not indefinitely. In other words, I believe this is the new normal."
Gilde said there is a lot of justifiable gloom and doom in the air right now, but this is also an exciting time. "During the recent State of the Union address, the president described his hopes for a future in which the focus is diversification, a loosening of the bonds that currently tie our economy and our day-to-day living to fossil fuel usage. We are on the verge of a new era in which there will be a transformation from our current fossil fuel-based economy to one in which sustainable energy sources play the dominant role."
Already, Gilde said, the U.S. consumer market for clean energy alternatives is slowly changing the way we heat and cool our homes and offices and, most notably, the kinds of cars we buy. "Just look at the new Tesla vehicle set to be introduced this March. It's going to be priced at around $35,000 and needs only 20 minutes to fully charge. Nissan and GM are in hot pursuit to build well-designed, economically priced automobiles such as this one."
Gilde said that even with so much infrastructure and so much world investment tied to the fossil fuel industry, it's just a matter of time, before the idea of relying on fossil fuels becomes antiquated horse-and-buggy thinking. "I've seen firsthand the negative effects of the oil and gas industry on individuals and entire communities. I believe we are witnessing the beginning of a transformation to more efficient and less dangerous energy choices that will positively affect the oil and gas price volatility that we have been experiencing."
Bradford J. Gilde founded Gilde Law Firm to implement his own philosophy of "We Believe, We Fight, We Win" - a commitment to personalized excellence that he brings to each individual case. He is licensed to practice law in Texas, California, and Pennsylvania; Gilde Law Firm handles cases in Houston, Dallas, Fort Worth, San Antonio, Galveston, Texas City, throughout Texas, California, Pennsylvania and all U.S. states.
Source: Marketwired (Canada)
(January 22, 2016 - 7:35 PM EST)
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