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Greg Pinelli's
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The slamming of oil in 2008 was a unique event...it guaranteed that the next go around was going to be sudden..and involve very dramatic price surges. The financial crisis and the ensuing shutdown of oil and gas development meant that a percent 2 or 3x the demand destruction was taking place. This is the why of the dramatic increases in equities like PWE..LGCY and LINE (among many others).
Jan 06 20:49 pm
|Rating:
+4
0
All Comments by Greg Pinelli »New Bull Market for Oil? [View article]
Depletion (6-8%)+Shut In Development (5-10%?)=4% Demand Destruction...NOT
Oil willbe at the $60 break even point soon..add a minimum 10% profit for the risk..and that is modest...and we're at $66.00 before you can say Phil Flynn's an Idiot....