FORBES: There is too much oil, it will be free of charge in 40 years

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The analyst of the "Forbes" Magazine, John Mauldin claims there is too much oil in the world and since alternative energy sources are becoming more important, in 40 years oil could be free.

John Mauldin adds that it is still unknown whether oil market will recover and develop in the next period. According to him, the highest oil price which can be achieved is USD 60.

Gas, solar energy and wind energy are becoming even more important in the world economy and have more stake at global energy production.

According to him , in the next 10 years, solar energy will go through the biggest expansion. This trend will continue in the next years as well.

Mauldin estimates oil, in the long run, will practically be free of charge, since we will have a large number of alternatives for fossil fuels.