Do you know what else happened in 1930? The greatest depression this country has ever seen is what happened.
The oil glut is real. As prices decline, desperate men pump more and more and more, fixing themselves into a ‘fag box‘, until bankruptcy happens. This is true for not only a number of companies, but whole nations dependent upon petro-dollars to fund their hedonistic lifestyles.
WTI is at $27.40 now, new lows.
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Yellen says oil’s decline is temporary. Time will tell.
$95 to $27 isn’t a decline. obliteration
will oil be the actual collapse trigger hm
most (people) ignored (it) some of us sensed it possible (over a year ago)