Or maybe this is the beginning of a major deflationary trend in our economy and crude oil is feeling it first? Just saying.
Plentiful, not always cheap, but looks like it's going to be cheaper for awhile now. Technology really brought the oil home.
Conventional oil peaked in 2005. The surge in new oil, fracked oil, relies on supercheap borrowed money (zero percent interest rates to bank-connected special customers). Rates are now going up, for the moment anyway. Us peakers knew about fracking for decades (Matt Simmons talked about it) and wrote it off as a solution cause it cost more than it delivers. Maybe rates will crater again, but if not, all this fracked oil is on "borrowed" time.
Mish this is the third time I have tried to make some comments here and each time it has been deleted. So please tell me if you don’t want my comments r something is wrong with my iPad.