I could use some help fact checking a report by Howell Raines in Portflio mag, here.
He claims that supply has deliberately been limited by the oil companies:
- they've shut down more than half of their 300 refineries in the last 25 years
- they're not exploring for oil in 80% of their leased lands in the US
- they're not reinvesting profits in infrastructure, like the Alaska pipeline
If this is true, definitely a scam. Do you more on this?