Oil Surplus Predicted This Decade

[Luvnit2]

(06-14-2024, 04:31 AM)NATI BENGALS Wrote: https://www.cnbc.com/2024/06/12/big-oil-given-stark-warning-as-a-major-supply-surplus-expected-by-2030.html
“The IEA said this would result in levels of spare capacity not seen before — other than at the height of the Covid-19 lockdowns in 2020.”
“This report's projections, based on the latest data, show a major supply surplus emerging this decade,”


https://oilprice.com/Latest-Energy-News/World-News/OPEC-Slams-IEA-for-Dangerous-Forecast-of-Peak-Oil-Demand-by-2030.html
“OPEC Slams IEA for “Dangerous” Forecast of Peak Oil Demand by 2030”

We have the technology to get away from fossil fuels. Unsurprisingly some people (OPEC) would prefer we didn’t.

I remember when we ran out of storage space and the price of oil went negative when we had disastrous leadership. https://www.bbc.com/news/business-52350082

Thank god we don’t have anybody coming in to power whose solution to all our problems is drill baby drill. Or anybody who might owe favors because their son in law got 2 billion dollars from one of the countries that founded OPEC who would prefer we stay dependent on oil…

Great, we will have cheaper gas prices, but will be dead due to climate change according to climate activists from the left.

I suggest you take a poll of the people who live in Nevada and Arizona to see if they would rather have Trump's gas prices or Biden's gas prices? Biden just took more oil from our reserve; God help us if he gets us into a war with Russia, we need gas to power our vehicles and planes.

His reserve steal was to take gas prices down in the northeast. They don't have the means to get extra gas to Nevada or Arizona, thus the higher-than-average prices in these 2 swing states. I am sure they are thrilled to know sometime in the next 10 years oil may be cheaper.