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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (13755)	5/19/2022 5:08:09 PM
From: TigerPaw	Respond to of 26824

The traditional 'seven sister' oil companies have been losing their influence as the large oilfields outside America and Canada have been nationalized. Their only exclusive profit center is in North America tar sands, shale fracking, and offshore deep drilling. Those other oil fields are currently untapped to keep the price oil high enough for the exotic extraction processes to turn a profit. Why do you think in this time of short supply and high prices the Saudis are not just opening a valve to pour more oil into the market? It's because they are the adopted 'eighth sister' and do what they are told lest they get shutdown too.