How fast

It’s interesting that the experts are saying oil won’t go up fast. I have been reading a lot of oil news lately well who hasn’t been doing that. If you take the things that are measurable like OPEC production we are told they are flat out and probably could not produce much more even if they wanted to. Then the fact that we are around 1.5 mbpd over supplied so we know where we are and where we need to be for prices to improve. Forgive me for not having exact figures but you can always do your own research. Now I read an article which said the USA mostly from shale over a number of years has reached a rate of production which is close to its needs all be it that they need to mix and match some of their oil with overseas oil to get the type they need. This increase was put at around 3 mbpd. So if just the American shale produced twice as much of the surplus oil in the wold then if as the Saudis say the shale producers will reduce their output due to costs and add in the Canadian tar sands which seem to be more under stress than the shale guys then add to the mix I think the figure I saw was up to $500 billion dollars in pulled or suspended oil and gas projects you should start to get a feel for just how fast and how soon and how far oil could turn. Others will have their ideas but just take the time to look at a few facts. Some say the Saudis want to hurt Iran maybe they do but look at what they have done in the past they haven’t acted this way before so what changed? The Iranians were there before but the shale and tar sands oil weren’t. Just my thoughts.