RE:Oil prices slide after IEA warns of further oversupplyGoldman Sachs produced a report, 09DEC2015, forecasting $20 / Barrel Oil if the current glut continues.
Fools in Saudi Arabia (meaning OPEC) must not have reliable calculators.
As they continue overproduction, the price drop (even at current levels) is costing them $120 Billion per year in lost revenue.
Consumers receive an automatic salary increase as prices at the pump continue to decline.
Significant global events can trigger a price reversal at the drop of a hat.
Historically, it has happened before - U.S. went from glut to famine.
Gas lines formed in the U.S. and other places because there was not enough fuel.
Prices skyrocketed.
You could only get fuel on odd or even days depending on you plate number.
Cause: Straits of Hormuz Naval Blockade.
This Time: Conflict In Syria or The Middle East?
In a wartime scenario - inventories are depleted at an alarming rate.
One Abrams Main Battle Tank Consumes Fuel Like An Alcholic On Steroids.
Plus Strategic Targeting Is Also Directed At Enemy Fuel Supplies.