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re: Oil prices past 10 years graph question.
Posted on 1/13/16 at 6:15 pm to bhtigerfan
Posted on 1/13/16 at 6:15 pm to bhtigerfan
Definitely not supply and demand
Posted on 1/13/16 at 7:12 pm to alajones
quote:
Definitely not supply and demand
100% incorrect. The price spiked on high demand and limited capacity (outside of the OPEC cartel). Obama and the democrats said we couldn't drill our way out of the shortage and they were dead wrong. Domestic producers substantially increased production, mosty through fracking, and Saudi lost market share. Saudi has kept their foot on the production throttle the regain their share and now the world is awash with more oil than it needs. It is exactly, supply and demand.
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