Brilliant question. They fix maximum production quotas to keep the fuel prices high. On the face of it, this sounds good, but it really isn't. It's only good for the oil companies and for governments (who make up an insignificant percentage of every nation's population). Politicians and other government officials, and oil company execs and employees make fat salaries, and the rest of the world suffers high prices. It's reallly unfair. To pacify the masses, they pay subsidies on oil, energy, and other services. People then get used to these subsidies, not knowing that they could actually be paying much cheaper for those services, if governments weren't colluding with businesses to reduce the supply of oil.
This is a pretty interesting take. Indeed we need to go back to the 101s of economics.
But why were policies on maximum daily production created?
Brilliant question. They fix maximum production quotas to keep the fuel prices high. On the face of it, this sounds good, but it really isn't. It's only good for the oil companies and for governments (who make up an insignificant percentage of every nation's population). Politicians and other government officials, and oil company execs and employees make fat salaries, and the rest of the world suffers high prices. It's reallly unfair. To pacify the masses, they pay subsidies on oil, energy, and other services. People then get used to these subsidies, not knowing that they could actually be paying much cheaper for those services, if governments weren't colluding with businesses to reduce the supply of oil.