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Some “Crude” Rambling
Warning: there's no structure here. Just some stream of consciousness oil market rambling along with some pretty good excerpts from Bloomberg, Reuters, and SocGen. Oh, and there's a random chart at the end.
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Oil.
Supply. Demand. OPEC. Russia. Shale. Sectarian divide. Geopolitics. Production cuts.
It's all so complicated.
Only it's not.
Regular readers are well aware of my views on the crude market.
I'm all for vigorous debate around things that are interesting to talk about. Like how t
Rinse and repeat, you better believe it. First, who in that group isn’t going to cheat? Second, the US shale boys are licking their chops at anything over $50 as they lie to anyone who will give them a penny more. Third, that debt bubble is and has been maybe the biggest loser of all time as fools were given $ billions upon billions to make us (joke) energy independent. Ha. Ha. Ha. Right. Fourth, This all bullsh*t we do not need more oil we need less as all vehicles are either more efficient or do not use fuel at all. Fifth, the future will slowly move oil out of it’s high energy position, that’s the way it goes.
Why OPEC has no leverage and why oil isn’t going back to $100/bl.
http://www.marketwatch.com/story/why-oil-prices-will-never-return-to-100-a-barrel-in-one-chart-2017-02-22?mod=MW_story_top_stories