|
Registered
Join Date: Jan 2002
Location: Nor California & Pac NW
Posts: 24,788
|
No OPEC deal so WTI is $69.
US shale and Canadian tar production is mostly losing money at this price, I think. The boom times in North Dakota and similar places are looking shaky. Most OPEC countries are in significant fiscal deficit at this price. Saudi has the cash reserves to take it for years, Venezuela Brazil and the like do not, and Russia will find its foreign exchange reserves dwindling fast. Good for US, Chinese and European consumers and for manufacturing and transportation industries.
__________________
1989 3.2 Carrera coupe; 1988 Westy Vanagon, Zetec; 1986 E28 M30; 1994 W124; 2004 S211
What? Uh . . . “he” and “him”?
|