(as reported on CON's page): Much of this downturn has been driven purely by sentiment, so even once the supply/demand numbers start to balance again the industry will need cheerleaders like this to help sway opinion. As much as the media will try to convince us that this is just basic economics asserting itself, it's not. The market is 70% psychology and 30% fundamentals.
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Trump said "I'll just say"oil prices go up!" And they will. "
We do it to ourselves each cycle and it will continue way into the Future. Price is high, drill baby drill. Then after 3-6 yrs someone in the Stk Mkt says we are in a glut, bam there goes the price. Then here comes the layoffs, bankruptcy's, hard feelings, and broken hearts. This routine is just what us American's get ourselves into. It's been going on for 40 years. Oil is not controlled by demand anymore, its controlled by the World Markets, Stk Traders, and Gov. Frankly, I bet we don't even have much of a glut right now if any. All of this is manipulated by a couple of Gov. to try and re-start the World Economies and to suppress the countries who have means besides peace. All it is.........when business is good, save your money, when it goes south, prepare to go with it.
We need trump to get the prices to $10 and shut us off totally
This is geo-political. As long as Russia and Iran will not play the NWO game, then the hurt will continue.
The same thing in 1986 happened.
http://www.zerohedge.com/news/2015-04-30/we-are-witnessing-fundamental-change-oil-sector
http://www.zerohedge.com/news/2015-03-19/how-many-shale-oil-plays-make-money-37-barrel-spoiler-alert-none
http://www.telegraph.co.uk/finance/economics/11937348/Russia-retreats-to-autarky-as-poverty-looms.html
http://www.nytimes.com/2015/08/15/business/energy-environment/low-oil-prices-pose-threat-to-texas-fracking-bonanza.html
It is not the bottom yet, oil prices will go down to $12 on current oversupply.
The price will stay low as long as Putin is in charge
Yeah I think it's more of a bottom of the downturn, where it will stay for a while... It's gonna be a sloooooow recovery this time around.