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The article doesn't make sense.
Jun 19 10:21 am
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All Comments by Saildog »US Oil Companies Borrow A Page From OPEC's Playbook [View article]
The fundamental problem underlying all of this is faltering oil supply. Read www.businessweek.com/m....
OPEC are lying about their ability to raise production. They most likely can't and this is a smoke screen. The oil companies know that production growth has stalled. Why invest billions in new plant if production growth has stalled?
They would prefer to take the heat on all of this nonsense rather than admit the truth: Global production cannot increase. They know they are going to take heat anyway, so they prefer to blame it on the president. He is an unpopular idiot, so it doesn't matter.