Renewable Revolution

The way these corporate fossil fuelers in the integrated (upstream PLUS downstream) big oil price gouging predatory fu cks operate is to do absolutely everything they can to make sure the downstream prices are "inelastic" (code speech for: make up every excuse in the book for not lowering them) on the way down, while ensuring they have a hair trigger on the way up.   

That said, they only have so much storage available (tanks, tankers sitting at ports, etc.). So they do try to not produce too much above what they can store to gouge consumers for tomorrow. THAT is what fossil fuelers perceive INCORRECTLY as the proper "supply and demand" calculus.

The fact is that demand destruction is going on because Renewable Energy technology, increased efficiency and more well insulated and carbon neutral building retrofits are TAKING A BIGGER AND BIGGER BITE OF THE downstream profit enchilada.

This dynamic may not save the biosphere (because it is too slow) but, because the fossil fuel industry business model operates mostly on volume sales (Profit margins are tiny on volume sales - without the artificial subsidy government babying and with the increased Renewable energy competition, bankruptcy is a high possibility.  ) to make a profit, a steadily decreasing amount of market share can, and will, drive them out of business. Fossil fuelers will never accept that as an economic fact of life.

Tough luck, fossil fuelers.