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5 Oil Myths and the "Great American Oil Boom"
- jyothi 18y agoFools report: 5 "oil crisis" myths debunked -- PLUS 3 U.S. businesses that will profit from high crude prices. Myth #1 -- The Saudis can save us. More of a stone-cold bluff. There isn't enough in the aged wells. Myth #2 -- The free markets will work out the oil crisis. Oil is a way of life today and there are no big incentives alternate energy. (except a global responsibility which won't come into existence till we face a huge calamity or something) Myth #3 -- Tapping the Strategic Petroleum Reserve (SPR) will increase oil supplies. It is a famine reserve only for the rich America and can not influence prices. Myth #4 -- High oil prices are the work of "speculators" There is no conspiracy and no fools fooling around. It is a mass effect due to large demand and short supply. Myth #5 -- The world is simply running out of oil In fact, there's plenty of oil left in the world -- close to 2 trillion barrels of black gold sitting in our own backyard right now. That's right, the U.S. has the largest oil reserves of any country in the world. Fool unveils 3 most prospective positive investments in Oil industry.