Escaping the Oil Trap
Remember. John D. Rockefeller was not a capitalist, but a monopolist. The Texas Railroad Commission was a government agency that could shut-in supply, not a socialist plot. And if we don't find a way to get out of the oil trap, other countries will, and by doing so, control our ability to grow. As they are now doing.
Today's low prices offer a unique opportunity to do a deal that is in the best interests of the industry, of consumers, and even of environmentalists, who need a floor price before they can grow the clean energy sector again.
Floor prices are the key to getting out of the oil trap.