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> when there is a steep supply curve Where is this excess supply at? Have you seen gas prices? Are you aware that the US had to use oil reserves from the strat
by I_DRINK_KOOLAID 4y ago
> when there is a steep supply curve
Where is this excess supply at? Have you seen gas prices? Are you aware that the US had to use oil reserves from the strategic reservoir for the first time in decades?
Europe is looking at legal measures to shrink its energy consumption such as regulating thermostats in public offices, schools and universities!
OPEC is also using this as an opportunity to shore up its state balance sheets after COVID, they will come through but not before they waste even more time to make sure they milk the West up to the very last politically acceptable petrodollar
- JumpCrisscross 4y ago> Where is this excess supply at? This isn’t what a steep supply curve means. And I wasn’t claiming we are currently in a steep supply curve environment (though we are seeing evidence of it).
- quickthrowman 4y ago> Are you aware that the US had to use oil reserves from the strategic reservoir for the first time in decades? They did not “have to” release oil from the strategic reserve, they chose to.