Were Speculators responsible for 20 years of low oil prices?

Discussions about the recent high oil prices have often revolved around the question of whether speculators are responsible, as apposed to Peak Oil or political instability.

Oddly, no one seems to ask the inverse. Weren’t speculators at least partially responsible for the 20 year run of low oil prices?

In the late 70’s and 80’s, speculators put money into off-shore platforms, arctic drilling, long pipelines and exotic extraction technologies. These investments resulted in a large surplus of oil, often resulting in losses for the speculators (for example, George W. Bush).

Welcome to ExTechOps

Welcome to ExTechOps. ExTechOps stands for Experimental Technical Operations. The term is derived from (and in homage to) the EXTECHOP department of S.H.E.I.L.D. from the graphic novel “Elektra: Assassin” by Frank Miller and Bill Sienkiewicz. I made OPS plural since it seems more natural and matches Sandbagger terminology such as D-Ops.

This blog will be a place for me to store musing, rants, and small code experiments – anything that isn’t a Habilis software tool.