12 May 2017

The Lamentations

I guess that The House of Saud is upset they're not able to dictate terms without any leverage.

Please allow me to extend howls of laughter in sympathy to their plight.

انخفاض أسعار النفط ليست علة. فهي ميزة!

Energy independence is the road to being able to ignore the middle east and its attendant toxic imaginary friends.

The hilarious thing about it is they brought it on themselves.

By dicking with the supply of something with inelastic demand it created an impetus to find new ways to get the product.

There's a lot of innovation with this kind of story.
Posted by Angus McThag at 17:13
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2 comments:

  1. Jess12 May, 2017 17:30

    In a perfect world, there would be so much oil, the OPEC nations would be trading barrels of oil for a gallon of water.

    ReplyDelete
  2. SiGraybeard13 May, 2017 12:18

    Inelastic demand vs. a fungible supply - any supply of oil is essentially the same.

    Well, both are first order approximations.

    It's why I've never believed in "peak oil and then civilization decays away after that".

    ReplyDelete

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