Everyone’s Talking About The Price Of Oil
I don’t see oil going any higher than $55-60 for the next FIVE years. Here’s why:
1. The US is one of the largest producers of shale. The Saudis know that.
2. The price is $60 as a break even point in order for producers to use shale.
3. If oil stays above $40-45 the Saudis are still making money.
4. One of the Saudi princes said you’ll never see oil at $100 per barrel again.
• I would not take long-term positions on oil.
• Oil is in a deflationary period, and it’s going to stay like that.
• Gas cost me $1.95 for Regular, the cheapest I’ve ever seen it.