Makes you wonder, if they can sell it for $50 a barrel now, why couldn’t they 10 years ago?.............
War or massive terrorism before $20/gal.
A geopolitical event will happen before Iran, Venezuela or Russia are taken down. Most likely event is that one of those three countries will cause the geopolitical event.
So much volatility everywhere. This can't go on forever. And when it stops going on forever it is going to get really ugly.
$1.75 a gallon here as of today.
Let’s do the Fuel-Oil Limbo! How Low Can You Go?
Ping.
“So which of these arguments will prove right: The bearish case for a $20 to $50 trading-range based on competitive market pricing? Or the bullish one for $50 to $120 based on resumed OPEC dominance?”
Simple to find the answer: is OPEC buying American oil rights and companies so they can shut them down?
In my limited knowledge they are not. Norway’s STATOIL seems to be a big buyer of US oil assets and they will want to sell.
It will go low enough, long enough to bankrupt Russia and force them out of Ukraine..... but now low enough to destroy the US economy.
On the other hand, propane is going thru the roof.
“$20 a barrel would take down Iran, Russia, and Venezuela. “
It does not need to go that low, but the faster it declines, the sooner we will see regime change in Russia and Venezuela. Don’t know if that’s possible in Iran. At $60, it’s already below the price point these countries need to survive in the long term. Maduro needs to see if his old job driving a bus is still available. But maybe he will get shot and solve the problem permanently.
Always remember this:
Reuters is the last gasp effort of the British fascists to keep alive Goebbel’s propaganda ministry.
Too many places are crying poverty at the current prices. Even if most of them are lying some of them are telling the truth. If prices continue to drop they’ll go bankrupt, which will cause supplies to drop, which will drive up prices.