Is the oil shortage a myth propounded to increase profit ?

Question

ref

Oil shortage a myth, says industry insider

The misconception has helped boost oil prices to an all-time high

http://www.independent.co.uk/environment/climate-change/oil-shortage-a-myth-says-industry-insider-842778.html

Answer 1

Obviously not. The worldwide demand for oil is increasing and that is not in question, so why do we need myths when the mechanism for the price increase is quite plain to see?

Answer 2

no

Answer 3

i can only say what i have heard and that - yes - there is no shortage of oil and speculators are keeping the price high to make even more cash.

they benefit from everything - if oil goes up they make more money,then inflation rises so interest rates go up and they benefit from that too.

basically we are being and always have been dicked by the 10% who own/run the world.

Answer 4

if it is it has gone too far not a single garage in our town has any fuel

Answer 5

There may or may not be an oil shortage but you can bet your life that some of the people that are in possession of facts regarding the abundance or shortage of oil are not going to let on for reasons that can only be speculated upon. Whatever the facts, many people are making a financial killing out of the latest so called crisis.

Answer 6

Yea I imagine there is some truth to what you are saying. A few well placed words in the stock exchange probably can influence the price. But that said I think it has more to do with supply & demand & the fact that the oil companies can not get it out of the ground quick enough to supply everyone.