Tuesday, November 25, 2014

Talk about Commitment!

There’s a well in Titusville, PA that has been producing oil non-stop for 153 years. As it only churns out one tenth of a barrel each day, it’s primarily for historical purposes now. But in its history, the message is clear: oil prices/demand have always been cyclic, and we shouldn’t be surprised by our current situation. In 1.5 centuries, two certainties are true: “One, nobody knows where oil prices are going and, two, nobody knows where U.S. oil production will peak.” Read more here. Comforting?