Lightstream Resources Ltd. LSTMF

RE:RE:Russia has flatly denied production cuts several times

[chantal2468]

obviously nobody takes the attempt seriously....price of oil never reacted one iota to the venezuela/russia meeting....oil demand PER CAPITA is at an all time high and has nowhere to go but down....supply best case is flat at best for next few years....bottom line is that without intervention oil equilibrium will take between 3 and 7 years to be in perfect balance....people seem to ignore the fact that in a recession oil demand can drop 7 million b/d...So you think the current glut is bad?More people need to educate themslves on the factual past....It was only 6 years ago that oil dropped from $150 to $30 WITH OPEC CUTTING 4 MILLION b/d....could you imagine what the price would have been without the production cuts???....This is the situation we are faced with today....This is the exact potential that could drive oil to the $10-$20 range....I sure hope it doesn't happen but this is what I saw when I plotted the above facts onto the current supply/Demand curves....a very scary scenario