Peak oil is a fraud created by the oil billionares and swallowed hook line and sinker by the leftists.
There is NO OIL SHORTAGE!The BP platform that burned then sunk last April was drilling in OUR waters. They ruined the Gulf State's tourism and seafood industry, and made a mess of our beaches. BP got the profit from the oil drilled-they leased the rights to drill-and the oil they produced their was sold to CHINA. WHY should we let that sort of thing go on?? China gets the oil,BP gets the money, and we get a ruined environment. Yes, stopping that makes all kind of sense to me!make the speculators have to actually take possession of the oil....watch prices plummetTraders in oil futures do not have the ways and means to store the oil that they would be taking possession of because it would cost them more in the long run than they would make. Those fat cats on Wallstreet are just buying & selling paper with what is wrote on it. Nothing more or nothing less.
Whats Economics 101? for I've never had it.actually, real world is right.
taking physical possession will decrease the prices dramatically. Economics 101 doesn't teach you that, but in reality, most of the trading is highly leveraged. Remove this leverage and watch with glee as prices fall back to $70
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