Scewed stockpile reportsHas anyone ever commented about the fact that this so called oil glut is based on scewed data and opinions?
If refineries are not achieving %100 output,because of ..say maintenance..that creates a backup.This backup is then reffered to as part of the 'oil glut'
This is often over looked this last year.Everyone looks at the US as though they are the only producer on the planet.Since the world seems still to be controlled by the US dollar it stands to reason ..however it scews the entire picture.The supply and demand picture doesnt add up either...it never did.Years ago the % of suppliers and oil demand was not that different from today...yet oil hit ..what was it $130-140 BBl?..(on speculation..I get that)
We will hit high oil prices again...and this US shale BS wont matter.The US produced as much oil in 1970 as they do today...nobody talks about that either.
Oil will go up because its just too wonderfull of a trading commodity...every person needs it ..every single day...and that goes for all the sorry-as..sed environmental hypocrital nutcases.
theyre all just too stupid to realise it....For example they probably still think their (get that training wheels 66?) tires are made of rubber LOL.