How The Oil & Gas Industry Can Prepare For Peak Demand

Not long ago we argued that as a rational business strategy, oil producers should raise prices, hold back production, restrain capital spending and make hay while the sun shines. It was a Milton Friedman-like bit of advice. Don’t worry about the world economy, the impact on poor countries, or how the policy helps the Russians to finance the Ukraine war. If it is not illegal, then do it. The long-term consequences of that strategy to the prospects and reputations of the oil producers might be bad, but if the producers have already concluded…