WHY?
The fundamentals that led to 2008 have not changed. When you look at the design margin, you could argue current environment is even worse than that time.
WHY?
The fundamentals that led to 2008 have not changed. When you look at the design margin, you could argue current environment is even worse than that time.\
..............
Each year for the last three years the USA has increased oil production nearly 1 million barrels@ day. The USA is on track to do the same thing this year and likely each year here after during the coming decade.
This kind of production growth is what the saudis experienced from 1969 -1974;
It represents an incredible growth in financial and therefor political power.
The USA is basically being recapitalized.