Re: Peak oil
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Businesses that make that much money have no desire to drive away their entire market by demanding that it pay whatever price they set.
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I think my point is that their customers have no real choice. If they could set the price, they could just forget oil and make billions in the futures markets. The market sets the price, and while producers have been able to manipulate it in the past, their ability to do so must now be questioned since production is very close to peak to meet demand. And if you have a finite amount of any commodity left, wouldnt you be happy as the price eases higher?
Running out is a bad turn of phrase, depleting economically accessible fields would be more accurate. But the end result is the same.
Bingo
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