You have lost control of the oil market, probably permanently. Boo hoo.
[Monday-morning update]
OPEC’s cuts are treading water. “The simplified version is that U.S. oil production is reaching a point where OPEC can choose to sell 100 barrels at $50, or 125 barrels at $40. They can choose between higher profit margins or larger market share, but the days of having both are over for now.”
Couldn’t have happened to nicer people. Still the potential for mayhem is there.
Mayhem THERE doesn’t bother me at all; it’s the mayhem that they export to here that concerns me.
They’re also talking about US natural gas falling below $2 per million BTU again.
Pity the worlds poor tyrants. The better the economy the harder it is to keep their boots on the neck of the people. Venezuela is showing them how it’s done. Arresting bakers for a shortage of bread will keep the rabble in their place!