Look at the graph above. Why are gas prices going up and up when production is going up and up? Why are gas prices going up and up compared to a few years ago when production was going down and down? The answer is simple. Gas prices do not respond to supply and demand. They respond to market control. And the market is 100 percent controlled by the oil companies, which are able to do so because governments are owned by Wall Street and Big Oil and a few other economic sectors.
So what happened to peak oil back in 2001 since production is going up and up? The answer once again is simple.
Peak oil is a myth created by the oil corporations to justify jacking up their prices beyond what supply and demand would dictate. How do we know that we’re past peak oil? We don’t know. We only have the word of the oil companies on that, and they would always lie to us in a heartbeat, as they always have.
There is an alternate reality that is probably much closer to the truth. Peak Oil is a thousand years into the future. Oil is plentiful and easy to drill for. But if people knew the truth, gasoline prices would likely be closer to around .50 cents a gallon.
This suggests that current gasoline prices are a scam to redistribute income from the 99 percent to the 1 percent via higher corporate earnings, rising share prices and larger dividends than would otherwise be the case.
Click the link below for a look at gasoline prices around the world, and remember this, the United States is a net exporter of oil starting in 2011, and that was for the first time in over sixty years. Production is up since the article below came out.