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Gold/Mining/Energy : Copper Fox

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biggerbob68

To: Metacomet who wrote (9627)	8/25/2015 11:03:34 PM
From: explorationguy	1 Recommendation of 10654

Price is determined mostly by the distance from the equilibrium point of the supply/demand curves. No one will invest in a new oil sands project right now as the economics won't support it. If a project was started before the price collapse then there's an opportunity to finish with the cheapest labor and materials possible. They don't halt a project past a third or half of completion because the penalties and contractual obligations will cost you more than 75% of the total capex anyways. Only Saudi Arabia has significant excess capacity of conventional oil and they are hurting right now. I expect in December at the next OPEC meeting they will change their policy. zerohedge.com

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