Friday, December 19, 2014
Its economics, stupid. Or is is it stupid economics?
Economists, who are never wrong, were surprised by the plummeting oil price. What happens when you massively increase supply without increasing demand, or while demand is slowing? Remember those silly things, Supply and Demand? America and Canada are extracting finite resources at breakneck pace and trying to go faster. Why not. Finite things never run out right? Quarterly thinking is destroying our world. Everything is not a commodity and economics is part of life not the other way around. The market cares only for today and immediate gain. Corporations care only for infinite growth and profit, like any cancer. These are what are driving our government. Have been for at least thirty years since he disaster of neoliberal economics rose its malformed head from the ooze.
Oil producers are set to be squeezed as a total of 14 new oilsands projects are scheduled to start next...