Dear Private Equity,Greetings from Hubbert's peak

摘要

Ever since the 1986 oil-price collapse,OPEC has engineered some measure of price stability by withholding spare production capacity,then an ample 16 million barrels per day.Of course,it has always been so.First,it was John D.Rockefeller who fulfilled this role to subdue manic drilling in the Keystone State.Then it was the Seven Sisters.