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For example, the announced intention of OPEC producers to cut back production as the price goes below $60 might be most naturally interpreted from that perspectiveproducers dont see it as being in their interests to sell for less, given what the oil will be worth in the future.See James Hamilton, Is Peak Oil Irrelevant?, Econbrowser , October 24, 2006, accessed January 31, 2011, The Hotelling rule tells us that we expect the price of a nonrenewable resource to rise as we use it up