petersterling

The Oil Bubble Will Meet the Same Fate as Tech, Housing

The government has been printing too much money for 8 years now. The real inflation rate was about 20% for the last 3 years. Now its flipping to deflation as real estate tumbles by 60-75%. Just like 1998-2003. The music has stopped and there are not enough chairs.
And yes the US oil shortage is US government made. Every oil exporter loves democrat politicians. They created the supply shortage and its heaven for overseas oil exporters. America is collectively energy stupid.

The Oil Bubble Will Meet the Same Fate as Tech, Housing

There's tons of oil and gas out in the ultra deep waters of the world. E.G., Brazil offshore discoveries, 30-100 billion barrels. It needs $100 a barrel to make a profit though. and there's more in the Colorado oil shales at a cost of $30-$40 a barrel. Plenty for hundreds of years if Congress would just get out of the way. Give government control of a desert and they will create a shortage of sand within 5 years....