Good article, cycle
I agree they shouldn't use that reserve to manipulate prices. The market will take care of itself
They got their vote
This whole oil story reaks of bs IMO, not to say it wont rally over the years..but in the longterm.
The short term is nothing more then bs fear.
There is all kinds of oil in the world. Aswell as new finds and projects just getting started.
At the same time the world is becoming less dependent on oil. With the exception of china, which is going to slow down anyways with the US economy(two biggest comsumers of oil)
Like ander pointed out, new fuel cells are coming. Green energy projects are starting to be heavily funded instead of tucked away.
These higher oil prices are just incentive. Because why else would the public leave their beloved cars when oil and gas are cheap.
You gotta let the oil tycoons get mega rich so they can transfer away, or we'll never evolve.
That's what these oil prices have been doing
The industrial age is closing, and oil "should" go down with it
Time to move on to better things
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