...on even STRONGER demand than we're seeing right now.- In January 2007 there were full government subsidies in place in China and elsewhere.- The truck and SUV market had not come to a screeching halt like it has now.- There was much less drilling and exploration. Now everyone is punching a hole wherever they can.Yet oil was still selling for $49 just a short time ago. We haven't even begun to see how far the price will fall from today's levels.
however today the world has 47 billion barrels less of oil since January 2007, this is about 5% of known reserves, and this if you actually believe the bogus OPEC reserve numbers, using 5% of known reserves in 18 months is quite scary...Regards,Nawar
Exactly my point.Too much companies racing to get oil, Too many companies working in solar.India is and will be the star in producing Biofuels. India have started, they have enough sugar cane, so is Brazil production for sugarcane has increased.Solar will cut at least 20% of energy needs within a year Worlwide.To much Alternatives will be coming to markets, whil HIGH INFLATION eats away at countries expansion to decrease alarmingly.Oil will be going down slowly , Iran, Nigeria, and even Sauidis cannot stop it. WHY? They need food at lower prices and it will cost them dearly.High Oil prices will force countries to sell more oil at top dollars while Oil prices retreats.They need food from the West.
yes that was`a set up by opec to bring price down for congress election so they could get republicans to continue control. notice how price startted to spike days after election. lol