Quote:
Originally Posted by Thunderball
Correct me if I'm wrong, but is it not likely that we're in for a vicious oil spike in the next 2-3 years with current trading well below what is considered to be a market range. There's only so much oil/gas consumption that is discretionary.
I suppose we can't blame Farmer Ed for that... but we can definitely blame him for the exacerbation of instability in Alberta.
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Very true, but tell that to the Saudi's as their storage facilities continue to build up. Inventories in Asia, Europe, and North America continue to build. China and India's demand will shrink with a US recession because they're economies are built to leach off of American consumer goods/services sales.
Yeah $150/bbl this July
was the vicious oil spike everyone was talking about 5 years ago. I think speculators/investors will be a little gun-shy and actually keep the price lower than fundamentals for a few years after this meltdown.