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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (39752)11/2/2012 2:27:37 PM
From: Keith Feral3 Recommendations  Read Replies (1) | Respond to of 218823
 
High energy prices have nothing to do with energy independence. $100 oil exists to facilitate higher revenues for Saudi Arabia, Iran, and other OPEC countries that have no other form of economic prosperity. It's a global tax that is way too high. Iran only "needs" $85 oil to break even. They are running a surplus with $110 Brent prices. Brent is on it's way to low $90's based on backwardation pricing around $92.

$110 oil is a global farce!



To: GROUND ZERO™ who wrote (39752)11/2/2012 3:18:21 PM
From: Seismo1 Recommendation  Read Replies (2) | Respond to of 218823
 
As someone who has been in oil and gas exploration for 29 years, I can tell you for certain that both oil and NG are much more expensive to find and extract than in previous decades. THAT will put a floor on oil prices.


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