In short, for oil prices to recover, US Production needs to drop to at the very least 6 million barrels per day for the market to rationalize in price.
We used to have notions of ‘proprietary programmed code’ but the Investment Banks learned that they could make their life a lot easier by working together instead of cross purposes.
Sure Oil can go a dollar below this low, but for all intents and purposes this is the bottom in the oil selloff that was predicted for the start of the year.
For example, the world population continues to grow, good farming land with proper soil management is a finite resource, and the world is going to need more food in the future.
I am sure corporations, wildcatters and trading firms are all making business decisions based upon these low natural gas prices, and they are not from the bullish side of the equation.
The UFC is going to have to make some changes if they are going to take their sport to the next level; promoting women fighters in bikinis can only fool the sports buying public for so long.
But Gold and Silver I figured were dead in the water until the Fed announcement on December 16th and they both showed signs of life from the long side on Friday.
