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For years we've been told we're going to run out of gas, that peak oil is in the rear view mirror. That the oil companies have overstated their reserves. Well, if all of that is true then perpetually rising oil prices (without necessarily a concomitant increase in cost of production) is going to be the product.
If we're not pumping more oil out of the ground but a lot more people want oil for a lot more puposes then that is going to spell a whole lot of wealth for the people with the oil without any market manipulation required.
For me, I don't really care how much the oil companies make, it isn't like I was shedding tears for them when they were all going broke in the '80s.
iSm: I haven't seen the story and it doesn't make a huge difference, but was that actually salary or realized bonuses and incentives?
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