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Thursday, October 1, 2015

Who Decides there is an OIL GLUT? Or Dwindling Supplies?

With all the ruckus about low oil prices, I've really come to wonder about the ACTUAL reality of oil supplies in North America.

Apparently, according to the media.... there was an "OIL GLUT" over the past year which has caused the price of a barrel of oil in North America to plunge below $50 on a regular basis.

But then again, I just read more blurbs from yet more media this week about "dwindling supplies" of oil in
the U.S.  So really.....go figure. Who is right? How much oil do we really have "seen or unseen" in storage tanks within North America?

What I find amusing is that there seems to be more of a market for hyped opinions than for actual scientific facts. Yes, my friends.....oil can certainly be literally measured....but really isn't it just more fun to make up stuff?

There could be professionals who make it their life's work to go around to all the major oil storage facilities in North America and actually MEASURE how much oil is sitting there. But perhaps it isn't feasible to have that kind of broad "access of information" regarding our precious oil resources. Maybe REAL data is too valuable to disseminate to the general population.

So perhaps we need to continue just be like blind sitting ducks and wait and "believe" whatever hype the media wants to sell to us on a daily basis.

Oil and Gas is a huge industry that props up huge swaths of our economy. And no, there's nothing wrong with that. But it appears that folks make a tad too much money from selling "hype" when it comes to the oil and gas industry. People like talking about "plunging prices" or conversely, about "peak oil" scarcity when the mood suits them. News channels love to report about how many good folks are to be laid off from working in the oil fields.

But I would like to encourage myself and any other willing souls to simply determine to seek out the facts, where ever they might be available or even if they are "hard to find"..... and to use ONLY the facts to form the opinions that we  want to hold.


Peace and prosperity,
Carla