[VTenigma]

I thought we were at peak oil 10 years ago. /s. At this rate it’s going to be cheaper to fill So. Cal. swimming pools with oil than water.

[Solson]

I think the Saudi/Middle East fields are no longer at peak and their production is down...but we have no way of knowing due to their stopping of publishing these figures many years ago. However, the Iranians have oil and, for all of OPEC, they want to keep the US and others dependent on them, so reducing the price stops or slows development of other fields and methods of extraction.

So, flood the market with low priced oil and maintain the dependence. Raise the price and open it up to exploration and fracking. They are choosing the first approach. Iranian oil will kill the US Domestic exploration market. To me, that is a big part of Obama's push on this Iranian deal - it allows Iranian oil back into the market.