Petroleum price: paradigm change

The petroleum shock in 1973 with the rise in prices, encouraged the imports countries to reduce their energy consumption and to search for new energy sources, then the demand decreased and the income too. The Arab countries decided to decrease their prices at the level just under the cost of production of non Opec countries to recover parts of market, the prices are staying low until now. The technology progress allowed to reduce the cost of petroleum said 'difficult' and then the petroleum prices stay low. To see an increase of petroleum prices, we must probably wait for the appeal to non conventional oils whom exploitation is very expensive around about years 2010-2020. (N.C.)