America is in an Energy Renaissance; Don't Get Too Excited About Cheap(er) Oil

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America is in an Energy Renaissance; Don't Get Too Excited About Cheap(er) Oil

In a recent interview, Total CEO Christophe DeMargerie was asked where he thought the price of oil will go in the next couple of years. His response: "It will flucturate." Aside from being tounge-in-cheek, it does remind us that despite the boom in American oil that has helped to lower prices, there are lots of factors that could send it higher as well.

One reason for a potential surge in price is a major uptick in Chinese demand. 2013 was the slowest oil demand growth for China in decades, but next year, PetroChina estimates it will more than double last year's growth. This could put a higher premium on international oil prices for the year, and further down the road as China becomes more and more reliant on oil imports. Tune into the video below to discover more reasons oil prices might not go down, and why Chevron is the best Big Oil company to profit from high oil prices.

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The article America is in an Energy Renaissance; Don't Get Too Excited About Cheap(er) Oil originally appeared on Fool.com.

Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google+, or on Twitter @TylerCroweFool.The Motley Fool recommends Chevron and Total SA. (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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