Cartoon Of the Week

May 29, 2019

 

The date of this cartoon is 2004. America has not "learned" much.  Instead of rationally managing our last remaining unconventional oil resources, in the name of long term conservation, we are using credit/debt to produce ourselves into oblivion as fast as possible.

 

Don't think for one millisecond that OPEC is not quite content to manipulate the price of oil around the $65 per barrel range to watch the United States produce its high cost, un-paid-for unconventional resources at a break neck speed, then export it around the world at a loss. OPEC  understands shale oil decline and shale oil economics very well. By 2025-2026 it  will be right back in the drivers seat. It has a plan and the plan, sadly, is working. 

 

 

 

 

 

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