[frank ballenger]

Libertarian Robert J. Ringer (Looking Out For Number One author) said in the 1970s when gas prices per gallon reached a certain number the oil companies would suddenly find lots of oil reserves and the scare stories of “world will be totally out of oil by the year 2000——low energy future coming.” will end. He was right.

95% of oil supply okay and 5% cut off for a while——not an excuse for billions of dollars in price gouging.

Or to hurt President Trump’s economy for his re-election.

[Zhang Fei]

[95% of oil supply okay and 5% cut off for a while——not an excuse for billions of dollars in price gouging.]

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Commodities prices are set at the margin. 5% excess means a big price slump, just as a 5% shortage means a big price hike. People don’t just want oil - they need it. Can’t make plastics or get from point A to point B without it. So industrial users will bid what they have to, to get the oil supplies they need. Fracking provided, over decades, about the amount of Saudi oil taken out of production by Iranian attack in one day. It’s a major development. Without the Saudi oil taken out of production, we’re looking at $100 oil, easy.

[Sequoyah101]

This is another unnecessary panic and should be over soon.

Crude markets are close to pure emotion and herd mentality. Gosh, sounds like all markets doesn’t it?