Low Gas Prices Now, Higher Later?

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The current drop in oil prices has been great for consumers at the pump. But ironically, it could mean higher oil prices in the years ahead.

The lower price of crude means energy companies have less money for oil and natural gas projects, which could mean finding less oil for the future.

That in turn would mean a smaller supply of oil and higher prices.

The New York Times reports that the list of delayed projects is growing by the week around the world.

The cutbacks could also affect investments in alternative energy sources like biofuels.

Click play to watch the CBN News report followed by Pat Robertson's comments on the exploration for new oil fields and how the U.S. is cutting back on oil use and production.

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