RE:RE:OPEC Won't Cut Output Even at $20 a Barrel: Saudi ArabiaWell, firstly, I want to wish all longs a happy and healthy 2015. I understand only too well your angst, Lefty, about the Saudis, et al! but when you analyze it! I can understand their actions. example, if they dropped production in November, who would get the benefit? certainly not them but their competition, the Iranians and ruskies? when one thinks about it, we can blame. The Fracking successes in the states as much as anything for the low prices for our energy stocks on the TSX. higher prices just encourages more Fracking, even to other parts of the world which would really affect long term prices. Hate to admit it but perhaps some of these upstarts may have to be weaned if we are to see decent oil prices again this year. thank goodness, bankers has a good balance sheet and can withstand these prices for a while as many will not. unfortunately, this puts extra pressure on a lot of juniors in oil and mining which causes me and I suspect many others to question WTF we are doing in the markets anyways. But hope is eternal and I wish the best for all investors this year.
Sorry about the punctuation in places, but I should not use an I-pad without keyboard.