alajac

Oil Won't Stay Down for Long

The author's assumption that a low price will destroy supply is actually dead wrong: the suppliers will pump and sell MORE oil to make up for the revenue lost due to the lower price.

FYI, in July I published (in seekingalpha comments) that oil would see $20 before $200. I was told "the market would have to collapse" for that to happen. I said "yeah, that's right."

I wonder what this guy was saying in July.