Quote:
Originally Posted by BRPORSCHE
^I sure hope not!
RIP my industry and job.
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You DO realize this is exactly what's going on, right? A glut is being produced by OPEC member nations with the specific intent of driving the prices down to kill American production (particularly shale oil production) and American petro jobs.
It's likely the break-even point is pretty low (some have even claimed as low as $25/bbl) for shale oil production so I think this is something that's going to stick around for a while - or until the OPEC country oil sheiks get sick of playing the game and want the newer model Ferraris rather than their one or two year old models - then they'll start cutting production again.
Whatever the reasons I'm certainly not complaining any. If gasoline goes <$2/gal too I'll be quite happy.