Get Ready for Energy Production Cuts Now
Jeffrey C. Borneman | October 27, 2014
Kuwait gets kuddos for the fastest cut in production of crude oil via use of the Green Meme by announcing it will take 300,000 barrels out of production for environmental reasons.
Crude production from the Khafji oilfield had been halted temporarily to comply with environmental rules, according to Reuters. Cutting production is the only answer. Too much supply and dwindling DEMAND requires a cut in the supply.
learned the The IEA, Goldman Sachs and even some credible sources tell us the world is oversupplied with Energy (crude oil) right now; that the price doesn't justify production from falling DEMAND, and several countries are facing bankruptcy - what is the logical next-step?