World is floating in oil….
Guess it will piss of the end of modern civilization crowd but running out of oil is not the problem. Later on the working stiff paying for it will be the problem but right now broke dicks can’t afford to buy it anyways so there’s plenty.
This will change as several more trillions are pumped in to the world economy and reignites the boom. It’s all about putting as many people back to work as possible in time to save the politician’s asses.
I don’t think we’ve cured the business cycle yet.
“Given that crude inventories are close to a 27-year high and the outlook for increasing economic growth is not good, most oil analysts are talking about further declines in oil prices. Some even talk of substantial declines.
“Goldman Sachs, on the other hand, says world oil demand is up by 2.4 million b/d in August over last year and that rising demand in Asia has led to a 600,000 b/d global supply deficit since May. This deficit is thought to be covered by selling off oil from floating storage. If this analysis is correct, Goldman foresees a substantial rise in energy prices over the next 12 months.”
Both statements contain accurate data, but they reach diametrically opposite conclusions!