

Oil
Renewable energy, that’s what everyone thinks they’re getting when they opt for an electric car. Somehow it escapes them that to power their vehicle it must be plugged into an outlet use electricity. The oil “saved” is actually sent to power companies for running their turbines. The idea that we can get away from oil with electricity gobbling machines is naive at best.
Oil producing nations lie about their supplies. In 1987, the Iranian government reported oil reserves of 36 bbl. and this jumped to 92 bbl.5 by 1990. The Saudi government said it had 169 bbl. in 1987 and miracle of miracles by 1990 it had 255 bbl. I could go through the rest of OPEC but you get the idea. These countries must lie for three main reasons. The amount of oil they’re allowed to pump is determined by how much they have. Having lots of oil also gives others the impression that they are militarily strong. And thirdly, if they need to borrow money, it looks good to the lenders.
I read a couple years ago that Saudi Arabia was converting its semi-trucks to natural gas. That seems odd if you’re awash in oil. No, I think OPEC is in trouble and the whole scam good fall apart and we could be looking at $300/barrel oil. With the political uncertainty in that region, it’s just a matter of time.