Want Cheap Oil? Reduce Demand!
by: Richard Heinberg, t r u t h o u t | Perspective
Ask the major oil companies or the US Department of Energy why oil prices are beyond ludicrous and they'll tell you there's plenty of oil out there, there's just a lack of investment in exploration and production - particularly on the part of the national oil companies in OPEC.
Funny, the level of investment in the global oil industry hasn't dropped off a cliff lately. Yet oil prices have shot up like asparagus in April. What's going on here? »



