Oil has crashed. There's no other way to describe a 14% fall in two days and a drop of 25% from the peak. I was calling for $30 oil and even lower. Everyone here of course was calling for the blue sky and spinning stories of an oil shortage. Just like the world was meant to run out of oil 90 years ago. Huh. Wolfie was right. There's plenty of oil around and even more to be found. Not far to get into the 30s now. Just one more down day or down night could do it. It looks pretty bad for oil as its winer now in the northern hemisphere. If oil collapses in the northern hemisphere winter, then what do you think is going to happen once winter is over and demand drops?
