Sustainable at $30?  In case you are unaware, there aren’t many countries extracting oil for under $30 per barrel. Looking at the chart below, only Saudi Arabia, Iran, and Iraq will continue to produce if oil is $30. We wouldn’t have much crude oil if only these countries produced oil. Most oil companies will probably then produce KFC instead of oil. Haha? How about alternative energy?  Yes, it is a threat, but it will take time. The world today is definitely nowhere near a point where we can continue to function without adequate supply of oil, coal and natural gas. Demand & Supply  Price is a function of demand and supply dynamics - simple as that! Yes, Iran sanctions have been lifted and more supply is going to flood the market. This is definitely one of the main reasons causing the steep descent of oil price. As for demand, ......