Leaf wrote:With the US policy of the Mid East most of those nations don't like the USA
Leaf
It's not just the MidEast, the policy of the US (and UK and others) in oil-rich countries around the world has been (and still is) to install some king or dictator and give him protection and a slice of the profits in as long as they open up the country to exploitation. World's biggest protection racket.
Decades ago these regimes found they could appeal to nationalist sentiment and increase their power by nationalizing the international oil companies and setting up their own state oil companies. The US,UK,etc. didn't like this but as long as the oil kept flowing they let it happen.
The problem today is that the state oil companies don't have the capital or technology to squeeze out the remaining oil and the governments and population are not keen to invite the international companies back in, which would essentially mean selling the oilfields to foreigners.
Leaf wrote:.They knew in 1971 the USA peaked and look what they did then.
They don't have to do anything after peak, except not be in any hurry to sell out their resources.