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re: US running out of room to store oil; price collapse next?
Posted on 3/4/15 at 6:14 am to The First Cut
Posted on 3/4/15 at 6:14 am to The First Cut
Cushing is still at only about two-thirds capacity. Refinery workers are on strike, which has to be curtailing demand for crude. And there is a buttload of floating capacity that's about to free up as the contango ain't looking as good as it once did. Plus, I bet people have been busting arse to refurbish some old tankage that hasn't been used in a while.
Nah. I just don't see it. The question is whose agenda does it serve to say prices are about to crash?
Nah. I just don't see it. The question is whose agenda does it serve to say prices are about to crash?
1
Posted on 3/4/15 at 6:36 am to JudgeHolden
There is no agenda in "saying" something is going to crash. Economists are trying their best to predict the future conditions. They are NOT the tail that wags the dog as some think. There clearly is an agenda by Saudi. They want to stop the unprecedented growth seen during the last couple of years on this chart. They want the West to again be dependent on them.
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