I remember people claiming we were running out of oil. That we have reached "peak production". Oil just broke the $35 a barrel with no end in sight of slowing production!
Saudi's have declared war on America. They will destroy shale oil business because its kicking their butt. America was independent of its grip for the first time in my life time. Obama is happy big little oil is getting raped by the Saudi's.
I believe oil can be drilled for $30 a barrel and break even.
I believe oil can be pumped out of the ground for $14 a barrel and break even.
Get ready to see defaults in the small oil companies because $25 a barrel is coming.
