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re: US running out of room to store oil; price collapse next?

Posted on 3/4/15 at 5:13 am to
Posted by Degas
2187645493 posts
Member since Jul 2010
11429 posts
Posted on 3/4/15 at 5:13 am to
Maybe we should deploy troops in the Midwest so that corn prices can drop.
Posted by The First Cut
Member since Apr 2012
14014 posts
Posted on 3/4/15 at 5:29 am to
quote:

Maybe we should deploy troops in the Midwest so that corn prices can drop.


OPEC is a cartel that has artificially inflated prices for decades by throttling the supply of crude. Big bad evil "Big Oil" companies have sharply increased the supply through fracking which has lessened the cartel's ability to keep prices inflated. OPEC (specifically Saudi) is dumping oil on the market to drop prices more in an effort to stem the growth of US fracking. Saudi's end game is to make oil higher than it previously was by shutting down the US fracking infrastructure.
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