/biz/ - Business & Finance

>>49370185
I wouldn't say an exist pump, because the entire oil infrastructure in the West is fundamentally so fucked that it'll take a good while for the production to catch up to the demand.
Situation is oil just trying to find it's logical price level and there's a lot further to go with that.
This situation isn't going to get any better either until nations start scrapping their retarded and restrictive green politics, which are extremely hostile towards any kind of commodity extraction or processing.

Renewables aren't going to do shit and that's why oil companies are more than happy to support green politics.
Renewables are a massive feelgood scam and a way to pretend you're doing something, where as in reality building windmills and solar is just creating a future deficit in energy production, which means that oil will have to climb even higher due to the increasing demand.
Only real answer for the green energy question is nuclear, but they've fought against it for a reason. It's an actual threat against oil, hence big oil has been funding greens to fight against it.
Luckily now it's becoming such a needed thing to fix the energy deficit that they can't keep up the fight anymore.