> everyone said it would never go down Citation needed. The US Gov literally said the current (in 2008) high price are due to demand/supply mismatch and "most

> everyone said it would never go down Citation needed. The US Gov literally said the current (in 2008) high price are due to demand/supply mismatch and "most industry experts contend that oil resources are plentiful ... Drilling activity is at a high level" [1]. As in the price will go down. OPEC only needs to control its members a tiny bit. Oil is sold on the margin and so a tiny demand/supply mismatch means a large price difference [2]. [1]: https://www.dallasfed.org/~/media/documents/research/eclett/2008/el0805.pdf https://www.dallasfed.org/~/media/documents/research/eclett/... [2]: https://www.vox.com/2015/1/5/7493799/oil-prices-chart https://www.vox.com/2015/1/5/7493799/oil-prices-chart