The real cause of low oil prices

WITH all the conspiracy theories surrounding the Organization of the Petroleum Exporting Countries' (Opec) November decision to not cut production, is it really not just a case of simple economics? The US shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. When discussing harsh truths in energy, no sector is in greater need of a reality check than renewable energy.

In an exclusive interview with James Stafford of Oilprice.com (OP), energy expert Arthur Berman explores, among other issues, how the oil price situation came about, what the future holds for US shale, and how the global energy mix is likely to change.

OP: What is your assessment of the current oil situation?