Quote:
Originally Posted by Joshua G
mark.
if the saudis really believe oil is driving climate change & therefore they must stop all this production, they are going about it the wrong way.
by forcing prices lower with an oversupply, they are eliminating the economic viability of alternate energy initiatives, not just other oil producers.
if they believe the oil should stay underground, they should stop pumping & move their economy to something other than oil based, right?
in fact the saudi policy is shortsighted & will only accelerate the moment they themselves run out of oil. & the US with its shale tech will rule the market sooner.
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This thread's title, etc. won't match with that story. As stated in article; Saudis pump what they can before oil comes more or less obsolete. They don't give a shit about climate change, they just want to get rid of their oil before it's too late.