Ugly,
What about Russia and OPEC's say in the matter?
Russia ready to give up it's resurgent strength, power and influence? OPEC ready to slash their budgets, and the growing expectations of their mostly poor people?
Anyway at $75 I wouldn't be putting my money into risky deepwater drilling, or Canadian tar.
Besides at 75 the US will keep buying SUVs faster than oil can be pumped.
EL
