OPEC to boost oil output
OPEC agreed today to raise its oil production ceiling by two million barrels a day next month and an additional 500,000 barrels a day in August if necessary in a bid to rein in uncomfortably high prices for crude. Oil prices fell for the second straight day from peaks reached earlier this week ….
The message is nothing new, but for the first time I’m totally overwhelmed by the amount they suck out of our earth each day and amazed by the fact there is still something left. Pumping up life’s fluids from the ages and turning it into smoke.
A barrel is no reference for me to get a feeling of the amount. Turning it back to liters does.
One day: 26.000.000 barrels x 159 liters = 4.134.000.000 liters
One week: 289.380.000.000.000
One month: 12.815.400.000.000.000
One year: 1.471.704.000.000.000.000
How many years is the OPEC at it already? And this is just the OPEC.0