News Tip: Short-Term Oil Price Fluctuations Shouldn’t Affect Pipeline Debate, Duke Expert Says
A recent drop in oil prices is a short-term happening; the proposed extension to the Keystone XL pipeline is a long-term project, says Campbell Harvey, a business professor
As gas prices drop, Congress prepares for another vote on the proposed Keystone XL pipeline extension
Quote: “The spot price of oil gets too much attention,” said Campbell Harvey, a professor at Duke University’s Fuqua School of Business. “Pipelines are long-term projects and they should not be accepted nor rejected based on short-term fluctuations in the spot price of oil. Yes, the spot price of WTI crude is down about $50 per barrel from a year before. However, looking at the futures prices out five years, the price has dropped by less than $10.”
Bio: Harvey is a business professor specializing in financial markets, global risk management and portfolio management.
For additional comment, contact Harvey at:charvey@duke.eduhttps://www.fuqua.duke.edu/faculty_research/faculty_directory/harvey/