> “The percentage oil production by OPEC compared to the global market didn’t waver by a couple percentage points from those cheap prices to the >$140 prices of 2008.”
Well as you are so fixated on nitpicking, I guess I can my own little nitpick.
It wasn’t 2008 that oil peaked to 140. And it wasn’t 140 either.
It was July 2007 when it peaked and it peaked at 145.
Don’t you just love how this nitpick garbage enriches a thread on Saudi intentions? I bet you do!
There’s a bunch more where you are lacking knowledge in the post you just made. But you’re done. There is nothing useful to come from this discussion and the only thing that is useful is the article linked to what Prince Alwaleed said about fracking in the USA.
***Saudi Arabia’s Prince Alwaleed Bin Talal, a billionaire businessman and nephew of Saudi King Abdullah, said the production of shale oil and natural gas in the United States and other countries, primarily done through fracking, is a real competitive threat to “any oil-producing country in the world,” adding that Saudi Arabia must address the issue because it is a “matter of survival.”***
I did not say peak. It was 2008. In 2007, the crude oil price never closed above $100.
There’s a bunch more where you are lacking knowledge in the post you just made.
Let me know when you actually find something incorrect, rather than just remembering data wrong, or reading words I did not say.
There is nothing useful to come from this discussion
Entertaining, yes.