It's very foolish for a country that can afford to buy all the oil it wants for $55/ barrel to struggle and lose money to increase it's own production. Leave it in the ground for now. Money in the bank. 10 years from now oil will be selling for $150 and then you can make money. 20 years from now could be time enough gone by that makes whatever anyone can get there hands on invaluable.
.
If there is not complete deflation from world economic collapse by then.
|