Originally Posted by grampi
So is everybody ready for the certain rise in prices once the urinating contest and the virus shutdowns have run their courses? I'm guessing we'll see $3.50+ prices. Oil industry execs still have their expensive homes and yachts to pay for so they'll have to make all of the lost money back...
Grampi,
I'll reply to this as I have to other such posts from you in the past.
Markets must clear, real basic microeconomics.
The world is awash in oil production capacity and potential.
US frackers set an effective $50/bbl price cap on crude. Many may be up against the wall now, but the capital equipment will still exist as will the expertise and fracked wells are cheap and fast to exploit.
No potential for $3.50/gal in Ohio or in most of the rest of our country.
And ya know, the big boys will still have their weekend homes in the Caribbean and their nice boats along with nice jets to get there, just as they do now.
So is everybody ready for the certain rise in prices once the urinating contest and the virus shutdowns have run their courses? I'm guessing we'll see $3.50+ prices. Oil industry execs still have their expensive homes and yachts to pay for so they'll have to make all of the lost money back...
Grampi,
I'll reply to this as I have to other such posts from you in the past.
Markets must clear, real basic microeconomics.
The world is awash in oil production capacity and potential.
US frackers set an effective $50/bbl price cap on crude. Many may be up against the wall now, but the capital equipment will still exist as will the expertise and fracked wells are cheap and fast to exploit.
No potential for $3.50/gal in Ohio or in most of the rest of our country.
And ya know, the big boys will still have their weekend homes in the Caribbean and their nice boats along with nice jets to get there, just as they do now.
