Posted on 05/20/2015 11:34:40 AM PDT by bananaman22
Could oil prices be in for yet another decline?
Oil prices have rebounded with surprising speed in recent weeks, with WTI prices bouncing by more than a third from March lows.
There are good reasons for this. Rig counts are down by nearly 1,000 (or nearly 60 percent) since hitting a high in October 2014. Spending on some of the world’s largest projects has been cut by a combined $129 billion, a figure that could balloon to $200 billion by 2016. The spending and drilling contraction is finally leading to some small production declines.
(Excerpt) Read more at oilprice.com ...
Ping.
Are they barracking us?
Will it be the opposite.. $90/barrel?
As it is, OPEC would open the taps just as any actual fusion power plant neared completion. They can collapse the price of energy any time they want.
Of course, alternative energy research plods along anyway, and sooner or later its going to happen.
What price was Goldman Sachs predicting June 2014?
Since hussein bows to his mooselimb masters in the Middle East, there's no doubt that the price will plunge on their orders. The illegal regime also conspires with Soros and Buffett to damage the economy of Texas, Oklahoma and North Dakota -- all Conservative states. The damage is evident as this article reveals. During the President Reagan era, we enjoyed both low gas prices and moderate prices on oil, thus benefiting domestic energy producers. As a longtime shareholder in what's now XOM, I'm personally feeling the hurt from hussein's manipulations of the free market.
In March through May of 2008, Goldman was predicting $200 oil. They finally gave up on that pipe dream in October of 2014 when oil was collapsing. With that sorry record of forecasting, they should spend their time in their vaults counting their loot like Scrouge McDuck.
They must be long on the derivatives exposure.
I certainly hope that is true, but it'll be because the Saudis are increasing capacity.
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