"Oil dropped to the lowest level this month on Tuesday as energy forecasters said the world's supply of oil will remain ample, and a prominent investment bank said prices are too high." Boston Globe
------------------------------------
We haven't had a good oil price fight here for a while. I am curious if you "peak oil" types think the high prices now are the product of long or short term shortages.
IMO, 30% of this is just speculative action in the markets operating at the margins of the spot market.
I am not a great admirer of Donald Trump but I heard him say the other day that there is a lot of crude afloat in tankers that can't be sold or placed ashore. True? pl
