The REAL price of oil From a post I made:
“P
eople have no idea what’s coming.... when we run out of DUCs, that’s it. Production drops.
If they didn’t drill any more DUCs in the 70s, why will they suddenly do it at $66?
In the 200 years we’ve had oil since it was discovered at oil creek, there’s NEVER been a supply shortfall
We came close in the 70’s, and again in 08, but this has never happened before
The market is gonna ask for the 102nd, 103rd millionth bbl... and we won’t have it
Then we’re gonna find out just what the REAL PRICE per bbl is... what will ppl pay when they’re starving, can’t drive for food ??
$200? $400? What’s the price of survival???
We don’t know cause THIS HAS NEVER HAPPENED”