2015 Crash Has Begun: This Truly Is A Global Financial Panic, X22Report, Rick Rule, Harry Dent (Video) |
Normally,when the price of oil drops,the OPEC mob have a meeting and cut production. This leads to less oil being available and the prices for any that is available rise. Once the available oil runs out,production rises and everybody is happy again. Hence you get tankers parked up,here and there, with the captains awaiting Telexes on where to go. This is speculating.
This time you have Canadian tar sands in the equation which are pushing out millions of barrels per week.
So reducing production means very little. Tar sands oil can keep things going. OPEC have decided that they will continue to produce,even if it means taking a loss,in order to put tar sands out of the market.
They are going to make tar sands oil too dear to buy by lowering the price of their oil.
Every production business needs income. No income means no bills get paid,no loan interest gets paid and the companies involved go bust !! The oil is still in the sand. The oil is still under the ground. The game now is........who can suffer the losses!!
OPEC have loads of money which they have amassed over time. The tar sands industry are the new kids who have little. It is a massive game of bluff.
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