Cartoon Of the Month

These OPEC fellas play the long game. They see what the costs of transitioning away from hydrocarbons will cost the world and OPEC does not buy into meaningful decline in oil demand for another three decades. I've read their stuff, they know they are going to be badly needed for a long, long time.

What are they doing to remain in the driver's seat? Picking away at development of resources, allocating a portion of production revenue to wildcat new, deeper areas, resting reservoirs with reduced production rates, allowing re-pressurization to occur, re-pressurizing in my cases, gearing up for IOR, preserving bottom pressure, preventing associated gas waste, diversifying investment and along the way... keeping their budgets balanced and price of oil juuuuusssssttttt high enough for the U.S. to drain itself dry. Which it will now do in the next four years, guranteeed.

In other words, all the stuff the U.S. should be doing, and isn't, OPEC is doing. The fella acts like he is perplexed, or troubled about what to do; he's not. His organization is on the right track. People like Berman who believe OPEC has served its purpose and should dimantle itself are foolish. People in the United States who believe we should no longer fear OPEC because of American shale oil are stoopid.