Quote:
Originally Posted by Darwinist
They CAN'T produce more. That's the big shiny white elephant in the room nobody wants to talk about.
Why do you think they'd pull this stunt on purpose now, when they could have done it ages ago at any previous level of production and still reaped the benefits of the nature of the commodity market?
Why capsize the world economy NOW? Remember, the Big Oil execs are thick as thieves with the political establishment. They've always played ball in balancing the world economy, as has OPEC, apart from a few symbolic production cuts to flex their muscle in the 70s.
The reason production isn't increasing now is because it CANNOT increase - because we are at the peak of world oil production. Simple as that.
Please note that we can still be at peak even though there is more oil in aggregate left to be consumed than has been consumed in the past. Itīs a question of how much you can bring to market in any given space of time, and that has plateaued, while demand keeps rising. Soon supply will begin to decline, increasing the gap even further, and pushing prices even higher.
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Exactly, the blame for this belongs on God for not giving us enough oil..not OPEC or the oil companies