Not going to happen until oil hits $30. US will probably intervene then by getting others to cut production like Saudi Arabia and OPEC like they did in the 80s. They have to protect their corporate master's profits.
gas price
- Thread starter rutakin
- Start date
Not going to happen until oil hits $30. US will probably intervene then by getting others to cut production like Saudi Arabia and OPEC like they did in the 80s. They have to protect their corporate master's profits.
suzuki2000
Well-known member
what's the pump price at a $30 barrel?
The prices are down because of oversupply. For the sake of energy independence the US and Canada invested in big production projects that can't just be turned off on a moment's notice. Especially now that the big spending has been made and they need to recoup their costs. This could be a very, very long lull in crude prices. Plus I believe Brazil found a massive, easy to exploit reserve recently? But that may have been NG, not sure.
Riceburner
Well-known member
Well Russia is paying the cost of low crude....
