as long as we conserve they are screwed. i think this has been a wake up call for america. i know dead asses that are actually trying to use less. the weak dollar made oil a better investment but after this fall they will look elsewhere . i want that fucking chauvez the pig to go broke . maybe his buddy putin can loan him some cash. oh yeah i forgot he will be broke too . it's time for us to stop funding our enemies . cutting back 1 tank a month is all it takes. without us they cant give the shit away.
it was not a problem to bring money to his house at 10pm.so why is it a problem to call and bitch.it wasnt a problem when we were all sitting around smoking pot together.yes i said it we all were smoking pot together.what now stupid.
No one knows how much they produce but them. So this is just another stunt to try to raise prices. They are fucked and they know it.
I agree. The speculators are finally out of the market and the bubble has burst. It will be a while before prices will rise again.
Also, some countries can't afford to cut production. Russia and Venezuela have built their governmental budgets on oil. If it goes down below $30 it will kick them in the gnads but they can't afford to cut production. Then you've got Brazil that just came online. They are not in OPEC to begin with.
I think most OPEC members will cut back, including the Saudis. However I doubt the Saudis will cut back much. Iraq will start bringing their oil online over the next couple of years as well. Then there is the production increases we've seen in the Gulf..
I think Obama should probably put in some regulation to keep the speculators from getting to far out of control in the future. I think that will likely happen too. You might even see WTI be restricted to trading in US regulated markets only.
I'm not 100% sure on this but I think we'll have oil below $30 by February and it won't significantly recover for at least 6 months. That will be even longer if Obama reigns in the speculators.