I don't think there is quite that much of a rush. As I recall, the IEA predicted a glut of oil for the next decade. There's also the problem of what people can afford to pay. As we have seen before, when Oil gets up over ~$80/bbl, the economy breaks. So it's constrained within a very tight range. Given the high debt load curently carried by all sectors of the economy (gov, corp & consumer), it's hard to see where the money would come from to support higher prices. IMHO, until the economic probleems are resolved, there's little chance of having supply side issues, unless of course we have a global escalation of warfare. In that case, the Oil production facilities would be prime targets, making the oil even more expensive to extract and ship. It doesn't make a whole lot of sense to drill new wells if they're likely to be targets for sabotage.
Then again, nothing abut the industry makes a whole lotta sense.
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Started by RE Dec 14, 2025, 11:54 PM
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