Quote:
Originally Posted by Slava
I'm curious about that bolded line. What makes you think that this is the new normal and not a piece of a somewhat usual economic cycle?
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For oil it is a new normal. US shale oil has changed the game since they can spin up new wells quickly as soon as the oil price rises and can do this indefinitely - they are now a buffer in world wide capacity. I'd be shocked if we see oil above the 60s anytime in the foreseeable future.