The oil industry isn't honest. We have decades of evidence to support that. So when they tell us we are going to be using a lot more oil for a long time, don't believe them. Distrust and verify.
Forecasts falling apart even faster this year than last.
Forecasts falling apart even faster this year than last.
Comments
In the meantime, demand destruction continues apace.
And it isn't decline yet. Just lower growth. When we get to no growth, look out! That is when things get really interesting.
I forget what the Break Even point is for RU and CA shale for production, but we're close to it.
At a point, it'll only be Industry that needs it.