Short-term, the next global recession is at our doorsteps, and weak economies mean less oil consumption. Long-term, America has the best engineers in the world, and our leading methods will be adopted internationally. We won’t see $100 oil for a decade, maybe forever. Oil isn’t like other commodities. When talking about oil, all rational thought is thrown out the window. People that have never bought commodities, never looked at supply, never looked at demand irrationally have strong opinions about price. Maybe they also have opinions on the price of tea in China? Most of these opinions stem from a constant fear of running out that has been propagated by the media for 100 years. Past […]