My conspiracey theory was correct.. texas voters,saudais bail out bankrupt trump..oil price needs to go up to 100 or more ..to incourage exploration.. what a time to be owning SEA..oil will just keep on keeping on.. thx to all your encouragement and i hope we see a great bagger here..
Prices could double: Trump's oil gamble comes at just the wrong time
It is the confluence of simmering political crises in so many places that has driven Brent crude to $US77 a barrel, up 60 per cent since last June.
"We believe an oil price shock is looming as early as 2019 as several elements combine to form a 'perfect storm'," said Westbeck Capital. It predicts $US100 crude in short order, with $US150 coming into sight as the world faces a crunch all too reminiscent of July 2008.
The Maduro regime in Venezuela is entering its last agonies, and the country's oil industry is imploding. North America has run into an infrastructure crunch. There are not yet enough pipelines to keep pace with shale oil output from the Permian Basin of west Texas, and it is much the same story in the Alberta tar sands.
SEA Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
