this post was submitted on 03 Mar 2024
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Oil jas constant demand and the Saudis have so much of it that it costs them very little to drill for it and store it. And digging a new well doesn't immediately flood the market with 4x the annual production of oil.
I'm not arguing against asteroid mining. I am saying that it is fundamentally impossible under our current capitalist system. That's why there has been zero advances in the concept in iver a decade.
They don't have to sell all the platinum immediately. Just like DeBeers has mountains of diamonds they keep locked up in warehouses to keep the price controlled.