its a racket, in any other instances it would be deemed unethical or illegal, remember the supermarkets tried doing it with milk a few years ago and they got done for it.
big oil seems to get away with quite a lot.
Some oil companies grumble at the idea...
- Thread starter JohnD
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its a racket, in any other instances it would be deemed unethical or illegal, remember the supermarkets tried doing it with milk a few years ago and they got done for it.
big oil seems to get away with quite a lot.
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Google "Peak Oil", read everything & try hard to understand.
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Google "Peak Oil", read everything & try hard to understand.
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If it was that silly JohnD'ski, surely you would have banished it into the ether with your new found POWAH as a moderator beyond reproach.
Peak oil is a serious subject that is discussed in serious circles. I can understand why you flippantly dismiss it.
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Wow, where in your imagination does that reside???
The basic idea is easy to understand
Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline.[2][3][4] It is related to the distinct concept of oil depletion; while global petroleum reserves are finite, the limiting factor is not whether the oil exists but whether it can be extracted economically at a given price.[5][6] A secular decline in oil extraction could be caused both by depletion of accessible reserves and by reductions in demand that reduce the price relative to the cost of extraction, as might be induced to reduce carbon emissions.[5][7]
The economic aspect also figures. Also OPEC reducing production to keep oil prices at some point they decide.
Something has happened on diesel. Went down to around £1.77 now about 10p or more dearer. Petrol still down.
Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline.[2][3][4] It is related to the distinct concept of oil depletion; while global petroleum reserves are finite, the limiting factor is not whether the oil exists but whether it can be extracted economically at a given price.[5][6] A secular decline in oil extraction could be caused both by depletion of accessible reserves and by reductions in demand that reduce the price relative to the cost of extraction, as might be induced to reduce carbon emissions.[5][7]
The economic aspect also figures. Also OPEC reducing production to keep oil prices at some point they decide.
Something has happened on diesel. Went down to around £1.77 now about 10p or more dearer. Petrol still down.
I'm aware of it, however big oil has taken advantage of being self governing,
As.john d said with the continual falling demand for oil it's been less of an issue, also if they produced as much oil as they possibly could do they would over saturate the market and couldn't turn a profit, the theoretical peak oil would never really occur.
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You clearly don't understand "Peak Oil".
Google "Peak Oil", read everything & try hard to understand.
It appears you definitely do not understand it.
It's an outdated hypothetical theory, which has missed many many supposed peak oil dates.
It is now believed that the switch to greener sources and the wish to reduce global warming will make this theory defunct.
There is plenty of oil in the ground it is however dependant on how much people are willing to pay for it.
There is many articles on this supposed theory both those that dismiss it and those that believe it to be a real thing.
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You clearly don't understand "Peak Oil".
Google "Peak Oil", read everything & try hard to understand.
Evidently you don't understand it.
Peak oil is a hypothetical theory based on the oil running out.
You are determining that the reason the oil is controlled is to prolong the point at which we hit peak oil.
This is the bit you don't seem to understand...
This notion you purport to believe is true and this makes you far superior to all others.
Unfortunately however this is not true, oil production has been manipulated to adhere to a certain price point with the rise and fall in demand. It is most certainly not to protect the world from running out of oil.
There are many trillions of barrels of oil awaiting to be tapped into and that's just in the USA, and fields yet to explore, some may be harder than others to extract but technology is improving and demand will be falling drastically over the next quarter century. It is going to be a long way off before we hit peak oil. We've already missed many many supposed run down dates.
We're in a funny place at the moment with oil prices due to COVID and the war in Ukraine which has meant the demand currently isn't declining, but when things have settled down a bit, demand will fall.
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