Quote:
Originally Posted by Bill Bumface
Prepare for info via dubious sources (although nothing shocking):
A coworker is friends with a significant player in moving US crude to the Gulf Coast and it's global export, and word on the street is the Saudi's end game here is to crush the US and Canadian shale operators. They expect it's a house of cards ready to tumble, and then allow them to capture more returns on their reserves.
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This is obvious. The question is whether oyb the Russians and the Saudis have an appetite to live with these prices longterm. The US produces roughly 15MM bbl/day, if that dropped by 5 to 10MM things change in a hurry.
Also, look at Nat gas futures, up most 50% in line with the timeline for LNG Canada. It's easy to be a pessimist but it's way too early to draw conclusions.