profluigi

Peak Oil is a Cost Issue

Excellent, cuts away much of the chatter and self-serving pap. But the Fed is the real reason why OPEC won't produce more, and they're right. Ahmedinejad put it best: "they take our oil and give us worthless pieces of paper". Why should OPEC produce more? The Fed blows air into the dollar, and OPEC is supposed to give up nonrenewable resources to bail out our profligate ways? Says who? The speculators see what Bernanke & Co. don't--trying to stave off a US recession on the backs of third-world countries is a dead loser.