In the long run, the citizens' income could potentially be financed entirely out of returns on the sovereign wealth of at least the richer HRCs, and thereby be turned into a permanent revenue stream independent of short-term hydrocarbons price fluctuations.
The group announced a $7.9bn loss for the fourth quarter as falling hydrocarbon prices forced it to take an $8.9bn writedown.
This is mainly because the bubble of excitement around low-cost American gas has been popped by the collapse of hydrocarbon prices worldwide.
However, due to a past history of low hydrocarbon prices, such plants have not fully exploited their waste heat recovery potential to date.
But, he adds, "it will be harder and harder to push for renewable energy programs as hydrocarbon prices fall," and "the new technologies that allow us to tap shale oil and shale gas could release vast quantities of methane" if not done properly.
S&P Equity Research noted Devon's comments in filings about the impact that its recent divestitures would have on 2005 production, realized hydrocarbon prices, and operating expenses.
Projects to develop renewable fuels and improve the efficiency of the power grid received funding in the stimulus bill, in part to offset the impact of the triple shock of lower energy demand, lower credit and lower hydrocarbon prices on renewable producers.
Depending on the direction of future hydrocarbon prices, the economy could become severely strained.
Even if hydrocarbon prices were to stabilize above the level necessary for Iran to balance its budget and current account next year, many of the inherent contradictions associated with the country's economic and political process will continue unabated.
Besides, relying on lng guarantees two things, neither good: more dependence on imported hydrocarbons and higher prices as the U.S. natural gas market gets tied to world prices.
