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The global oil market remains tight according to Saudi Aramco, the largest oil producer in the world. And that does not bode well for a world that still relies heavily on fossil fuels.
“Today there is spare capacity that is extremely low,” Saudi Aramco CEO Amin Nasser says at a conference in London. “If China opens up, [the] economy starts improving or the aviation industry starts asking for more jet fuel, you will erode this spare capacity.”
Comment:
What have I been telling you guys? The airline tickets are way too artificially under priced. Airline welfare. Even a cave man or a hobo can afford to fly cheaper than a bus ticket. The whole system is full of welfare jobs, especially this war on climate change. Hundreds of millions of unnecessary unproductive overhead and tax absorber jobs.