High oil prices have encouraged a glut of oil production capability, yet those same high oil prices have caused a global economic slowdown squashing demand.
Oil would be $65 if it weren't for Ben B trying to prop things up.
It will soon all come unraveled. We'll even see prices drop to $50 and lower in the coming recession.... But $65 is coming first.
PS. Please don't tell me that you drank the kool-aid and now you believe we are recession-proof forever.
You still avoid the facts.
Far from a "glut of oil production capacity", global oil production has not increased since 2005.
You think repeating a falsehood over and over makes it true?