Quote:
Originally Posted by jpd80
Patience grasshopper,
You're reading way too much into that decline, the price of crude has almost doubled
since the start of the year going from $27/barrel to $44/barrel with OPEC wanting the
price to go higher (about $65-70/barrel) and at that price those producers become viable.
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I failed to mention in my earlier post, US demand will fall off a cliff. The "recovery" of the US economy has been nothing but smoke and mirrors. They are still riding high on the QE horse but with nothing to show for it. OPEC will only need to nudge the taps just a wee bit to keep the prices at shale-crippling levels and wait for the US economy to implode.
Like you said, patience
