Reuters: Venezuela's Maduro says oil producers close to output cap deal
"...This will pave the way for a new era of stability and investments, stable output and new oil price formula..."
Saturday, October 22, 2016
Oil Output Cap
We've been reading about this cap deal for a while. Since it was first announced, oil has risen in price to the present $50 per barrel plus or minus area.
Reuters: Venezuela's Maduro says oil producers close to output cap deal
Reuters: Venezuela's Maduro says oil producers close to output cap deal
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Here's the trap all the OIL Republics , Kingdoms, and Corps. are in. If they raise prices through cartel action it just pumps up the drive toward more and more alt. / renewables and electric transport. Since 55% of all of the oil taken from the ground is made into Gasoline, Diesel, and Kerosene ( jet fuel) all of these entities are facing a slowly eroding market going forward. Eventually, a carbon tax will be added to this stuff and the move to Alt. energy will become a rush and they'll grow even weaker on the demand side. It's a bad situation for them and they all know it.
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