Comment Re:OPEC Screwing Themselves (Score 1) 456
USA is screwing istself, by dropping oil production, increasing oil imports and giving tax benefits to SUV owners.
Even G.W.Bush questions Saudi ability to raise oil supply, not because they are holding back production capacity but because the major oil field of Saudi Arabia are more than 50 years old with no new significant discoveries.
And lets not forget the CEO of Shell, saying we are near the end of cheap high-quality oil:
http://business.timesonline.co.uk/tol/business/economics/wef/article3248484.ece
Not because of some evil man somewhere holding back oil production, but because of natural limits.
Even G.W.Bush questions Saudi ability to raise oil supply, not because they are holding back production capacity but because the major oil field of Saudi Arabia are more than 50 years old with no new significant discoveries.
And lets not forget the CEO of Shell, saying we are near the end of cheap high-quality oil:
http://business.timesonline.co.uk/tol/business/economics/wef/article3248484.ece
Not because of some evil man somewhere holding back oil production, but because of natural limits.
