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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (186909)	12/4/2014 6:06:15 PM
From: Jim P.	5 Recommendations Recommended By Ben Smith CommanderCricket Philip_ RevoltNapper6 Sweet Ol Read Replies (4) \| Respond to of 206338

I am in the not conspiracy camp. Until recently most oil companies did not believe or were skeptical of the sustainable profitable growth in light crude via shale. It has only been in the last year that disbelief has turned the corner to a consensus view of profitable large North American shale oil growth based on the futures curve. The idea that some other group saw this coming with enough confidence to orchestrate a price collapse is simply fitting a simple reason to what IMO is a consensus change in the growth of oil production in the near term. I do think that once this became obvious that it was/is in the interest of low cost producers to influence the price signal and make unprofitable projects that would have gone forward with a hedgible futures curve. Something was going to take production off of the market that was beyond the growth of demand. I am still surprised by the speed of the oil price decline. That fast drop breaks market psychology in a way that will certainly impact projects oil growth projects while stimulating oil consumption growth. I hope this is close to the bottom but have not a clue. I am sure that the longer it stays down here the less capital will be employed world wide in new oil projects. That is in the interest of some of the more stable low cost oil producers and is a conspiracy that is best executed when everyone knows it is in play. Jim