People didn't want to drill for more oil then and they don't want to now. Otherwise Obama would never have won. People just want to continue driving their SUVs like nothing is happening.
Again the oil companies are adapting to not getting stuff handed to them on a silver platter. Exxon reports using 3D technology to improve dilling rates and better forecasts the idea of laser drilling is progressing so on and so forth.
On top of that the US Navy is developing fusion. Pb11 style without the massive neutron production. Power positive results could come in 2 years which would scare OPEC into opening up everything they have to sell what they can before demand washes away.
OPEC is already acting very weird. They are noting how the oil prices of last year caused massive demand destruction and instead of talking like they need to raise em they are talking about how they need to increase production. They know their failure to ward off extreme prices last year cost them a great deal of support and helped trigger more movement towards efficiency.
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