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The oil producing companies have intentionally flooded the market with oil and drove down pricing. This is counter productive to making profits. Why would a company that pumps oil out of the ground for $9.00 a barrel say and was selling it for $100.00 a barrel work twice as hard to pump twice as much oil to drive the price down to $10.00 a barrel. The oil producers are working twice as hard to make $1.00 profit on a barrel of their oil when they were making $91.00 a barrel.
There is an agenda that does not have providing cheap affordable oil to you and I. I would bet my life on it. Exactly what it is I am not sure yet.
I know one agenda is to move the refineries from high labor markets such as the USA and Europe to cheaper labor in other parts of the world to increase profits. They could also be trying again to shut down alternative renewable energies making them to costly. Not like they haven't done this before. Clearly we don't learn form the past.
Unlike our government and the people today who only see today these big companies are looking years down the road and potential profits.
If you believe they have done this because they like to make less money and feel sorry for the consumer paying high prices you probably also believe in unicorns.
It specifically has do to with the cold war between Iran and Saudia Arabia.. where the Saudies have enough money to hurt the Iranian economy for a longer period of time with cheap oil
That, and they want ot make sure making biofuels not as economically viable.