Saturday, March 28, 2009
Dangerous Lack of Investment in Oil
I’ve written a number of posts about this matter, and here is no less an authority than Matt Simmons issuing a stark warning that the current level of insufficient investment in oilfield development is going to cause a price spike in the near future. Last year when oil spiked, the world economy was still hot. Now it’s tottering dangerously. I leave the rest to your imagination.