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Buxton ND | Here's the open of John's read,
"If you were to read all the articles on the oil price over July and August, the authors would have us believe that we're destined for below US$60 per barrel of oil until 2020"
I would say the authors is using past history from the 1970's. After the huge run-up back then,,, oil stayed low priced for a few decades. Back then, we had those that said "Peak Crude" and we would "run out" by this time is history,,, both have been proven wrong. We had the "peak crude" guys in 2008 also,,,AGAIN they were proven wrong.
Prior to the big boom in ND's oil patch, media reported about this new find in ND. BIG OIL knew about the oil in ND back in the 1970's. There is a "finite supply of fossil fuels" but its like playing poker with Big Oil, do you really think their gonna tip their hand for us to see what REALLY IN IT ? ? ?
Still the massive question in crude, will the spec money go net short,,, as they have in many other market ? ? ? | |
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Not If.. but When..
