OTCPK:PDPYF - Post by User
Comment by
lifeundergradon Dec 10, 2014 9:32pm
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Post# 23217768
RE:RE:Party Poopers
RE:RE:Party Poopers I'm surprised that the OPEC announcement has proven to be such a catalyst for news like this - I feel like Russian compliance with western demands might magically fix the situation, but the truth is there's a ton of gas coming out of the US - way more than anyone expected. When NG collapsed after the 2008 crash I watched rig counts drop, usage go up, and the price eventually followed. I'm sad to think that it may have peaked already, but I'm not terribly worried about PPY. Even in another 7-8 year correction they'll survive, and likely thrive barring any more bad news. OPEC members can't afford to keep prices this low forever, I think they're just shaking the tree for a bit before major cuts come into effect.
The cynic in me always wonders if statements like this are a plant to help drive stock prices down, and secure better contracts. The market always finds equilibrium, and we are all looking for buying opportunities here...including those on the demand side. Petronas certainly knows how to play poker...