Oil is Not Scarce — The Oil Industry Continues to Play Us For Fools

That is one of the most important facts in our world, and hardly anyone you meet will believe it. Most people have been bamboozled by the oil industry led by its flacks, by compliant analysts (read Daniel Yergin et al), by peak oil spinmeisters, a snoozing press, and the heavy artillery brought to bear by the Organization of Petroleum Exporting Countries ( OPEC), which works overtime and spends big to make us believe in the myth of scarcity. That keeps prices high and oilmen rich, while the rest of us pay and pay and pay.

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