Quote:
Originally Posted by Shift
Its so dumb I swear. Iran alone has an estimated reserve of 115 billion barrels, yet only pumping 2.5 million a day. (Supposedly going to increase to 4 million per day within the next few years). Surely we could increase bpd output and within the next 100 years of supply find another source of fuel. I firmly believe the reports that the real price of oil should be around $75 per barrel if the correct amount was being pumped and the damn speculators weren't driving up the price.
|
It's not dumb, it's simple genius. Artificially deflate the supply so a higher price can be charged. It's really been happening for a while, but the economic slow down bitch-slapped the value of the dollar which is further exacerbating gas prices. Simple, yet effective.