Will bookmark this and see if his prognostication proves true. My guess? No......
Pretty much zero chance it’ll happen. I agree...it stabilize around $60 and downward...but there’s too much production and no one is willing to cut enough to bring the price back up. It’s going to around this price-level for at least ten years. Meanwhile, get used to the idea of some gov’t tax increase occurring with the price of gas....it’ll happen by end of 2016.
the good old rule of supply and demand may be hit with “events”. Something may happen to influence the price. We’ve been thru this before folks...back in the early 80s....the dif is the economy was expanding then and the hardship of the sudden fall in oil prices was eased a bit by other industries. Now we have a shrinking economy, no hope for recovery, investors/banks losing money by the minute and lowlife scumbag vile rotten registered Democrats(and their allies the RINOs) running t5he country..........