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Strategies & Market Trends : impose an oil import tax/ tariff on all brent oil imported t -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (1)

2/27/2015 1:10:35 PM

From: robert b furman

Respond to of 5

Spread between WTI and brent is at a high.

Shale oil and storage capacity approaching 80% full is depressing WTI.

Rig count is dropping quickly but production continues to rise slightly and / or hold steady.

Longer term it will decline as prices appear to be bottoming.

Crude Oil (WTI)	USD/bbl.	49.33	+1.16	+2.41%	Apr 15	12:51:43
Crude Oil (Brent)	USD/bbl.	61.90	+1.85	+3.08%	Apr 15	12:51:43

It looks as if the USA will be able to be the low cost manufacturing producer / refiner for the world.

This should cause some dislocation but in the longer run - continue the creation of high paying jobs within the US.

Meanwhile the shale producers appear to be the swing producers vs the Saudi's.

When oil gets above a certain price we drill and create more shale production.

Nice to see that saber rattling in the Mid East is no longer gauging us in the pocket book here in the USA !!

Bob