Oh Hillary.......time to scream "Russia!"
Posted on 07/17/2017 2:14:08 PM PDT by Hojczyk
I better fill up.
Since Cuba is the defacto ruler of Venezuela, I’m not sure they’d be upset with an oil disruption. The Cubans will not let go of Venezuela without a fight. Very disturbing and complicated situation.
Years. Look at the EIA and IEA data.
‘98s crash to $10 was over about 1/2 of 1% “glut”
The market news is manipulated to create markets. Sometimes it gets out of hand. For the market makers it is just “Oops”. They make money on trades. For everyone else it is feast and famine.
Production costs of Canadian oil sands has dropped since the pipelines opened. Not enough $bbl to establish new operations; but, cheap NG allowed maxing out production in existing mines.
As soon as prices rise a bit, the oil-sands can fund expansion into new areas. Tight oil shale in less favorable areas likewise would renew expansion. Even Mexico has a new 2 billion bbl shallow field off Dos Bocas to exploit.
bkmk
Obviously, the direction oil comes from is “below”.
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