Quote:
Originally Posted by KC911
Just read where some expect oil to remain at $60/bbl for the next five years...
Imo, what we should be asking ourselves is why it was priced so artificially high for so many years.
My take: Speculators (artificially driving the price up) and corporate profits.
Enjoy the ride over the next few years....
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Well into tinfoil hat area with this note....and the chances of $60/bbl oil for 5 years is the square root of dick-all.
Considering cost of production outside of ME, natural price is likely in the $85-$90 range. In the event that oil prices were to stay at $60 as you suggest, we are just setting up another bust/boom cycle as investment will drop off radically at $60 for any length of time.
Also will cause repercussions due to impact on some pretty unstable and unsavory regimes. Cornered rats do the darndest things...
Dennis