The oil companies are not like farmers that keep producing record surpluses with lower prices. The oil companies will quit in low price times to have oil when the prices are better. They "bank" the oil rather than sell it at a break even or loss.
I think your could have corn at $0.00 on the market and there would be tractors running full boar ahead because it just had to get better. LOL Farmers in general are good short term planners but poor long term ones. If prices go up they will produce like crazy to drive it right back down. A saying an economic professor once told me is true. "I have never seen any crop that a farmer can't produce to worthlessness" Think about it. When ever prices are good we will produce record crops and drive the price right back down.
When prices fall on cars, oil and other things the companies cut production NOT RAISE IT!!!
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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