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  • Oil Going Off the Boil [View article]
    Road Runner is correct, but there is also a second batch of price supporters: The exploration & driller cos, from domestic to the Saudis, need ~$70/barrel to make further extraction efforts worth it. With various corners of production needing a long-term floor to keep stable financing, and the US administration begging banks to provide financing, [[and the producers paying Congress]], then there is a triumvirate of price supporters.

    (Whether it goes to the moon is debatable. But a diminishing resource needed by a population that is becoming more mobile even as it grows? Hmmm... Maybe the moon is not so lofty a goal. Next time it's <50, I'm in.)
    Sep 26 20:27 pm |Rating: +1 0 |Link to Comment
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