Originally Posted by
Grumble
Wouldn’t lose any sleep over it. Fracking is the new price cap. Below a certain level, fracking isn’t cost effective and they shut the wells down. When oil prices go up they turn the wells back on and it starts flowing increasing supply. It’s our biggest weapon against OPEC now. They can no longer dial back supply to drive up cost.
That was true 2 years ago when exporting US crude was illegal. Now the US exports over a million BPD and growing. Just a matter of time until demand exceeds supply. It's already up
53% off it's 52 week low. $$$