Quote:
Originally Posted by R Leo
It has nothing to do with "peak oil" or any other doomsday scenario. The global economy is currently in a cooling-off period and hydrocarbon production follows the economy. In short, it's all based on demand and the ability to meet demand is in itsself, significantly affected by global refining capacity.
One more thing. A HUGE part of the current BBL price of oil is driven by speculation on the disruption of supply. Today's high came on the bombings in Afghanistan. Tell me: How much oil comes from Afghanistan ?
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I thought we had that pipeline done already...alot of oil is from there, that's why we went to war isn't it, so we'd have a straight shot to that oil?