It is not necessarily the case that the “oil price crash may be here to stay” (your report, 18 June).
The Oil and Gas UK chief executive failed to take into account foreign relations and policy.
Take, for instance, the strategy of Islamic State not to destroy oil installations in the Middle East.
What can the West, or more importantly the US, do to stop IS getting income from these wells? Oil and foreign policy are inextricably intertwined and there could be a drastic change in the latter.
Will, given a change of president, the US remain “isolationist” in relations with the Middle East?
Any military action by the US and the UK would upset oil supplies and oil prices.
Arguably, given the volatile situation in the Middle East oil prices could well rise again vertiginously.
Old Chapel Walk