HolyMoly
09-30-2016, 09:40 AM
Remember when people were freaking out about peak oil and the "oil experts" claiming it wasn't an oil bubble?
Well, not only were they all totally fuckingly ridiculously fuckingly wrong, but looks like China has been stock piling oil at a far greater rate than thought. Never mind that the issue was completely fabricated for the sole purpose of driving oil prices up. It wasn't a bad tactic as it drove innovation that allowed better extraction of existing and even dead reserves and new drilling got underway. And as more and more "Green" energy comes online and takes market share from oil (mostly by government mandate), oil will always be our most abundant and cheapest energy resource. Don't think so?....Don't cry for me Venezuela.
Well, not only were they all totally fuckingly ridiculously fuckingly wrong, but looks like China has been stock piling oil at a far greater rate than thought. Never mind that the issue was completely fabricated for the sole purpose of driving oil prices up. It wasn't a bad tactic as it drove innovation that allowed better extraction of existing and even dead reserves and new drilling got underway. And as more and more "Green" energy comes online and takes market share from oil (mostly by government mandate), oil will always be our most abundant and cheapest energy resource. Don't think so?....Don't cry for me Venezuela.