A Nice Quote to Ponder . . .
Posted on May 23, 2008 under Emergent News,
“If the two biggest oil producers in the world can no longer increase production, that’s a catastrophe, not a bubble,” said Stephen Leeb, an investment manager who has authored two books on oil scarcity. Apparently Russia and Saudi Arabia, the two largest pumpers of crude in the world are losing pumping capacity by the day; Saudi Arabia couldn’t increase oil output if it wanted to. Pure and simple, the current supply and demand scenario is driving the price of oil into the stratosphere. Wake up politicians! Cheap oil is dead.
“If the two biggest oil producers in the world can no longer increase production, that’s a catastrophe, not a bubble,” said Stephen Leeb, an investment manager who has authored two books on oil scarcity. Apparently Russia and Saudi Arabia, the two largest pumpers of crude in the world are losing pumping capacity by the day; Saudi Arabia couldn’t increase oil output if it wanted to. Pure and simple, the current supply and demand scenario is driving the price of oil into the stratosphere. Wake up politicians! Cheap oil is dead.
