The only countries subsidising oil are those that produce it. China has stopped. China has just placed huge taxes on large cars. Demand is dropping big time. Can the producers eat all the oil. Of course not --oil has only started to go down. I closed my DUG (short oil stocks) for nice profits but will rebuy as you drive up the price again.
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The only countries subsidising oil are those that produce it. China has stopped. China has just placed huge taxes on large cars. Demand is dropping big time. Can the producers eat all the oil. Of course not --oil has only started to go down. I closed my DUG (short oil stocks) for nice profits but will rebuy as you drive up the price again.
Aug 21 19:27 pm
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All Comments by CLH »Where Does Oil Go from Here? [View article]