Re:Oil Falls Below $40 for First Time Since 2009 as Glut Grows
by jessaustin on Friday August 21, 2015 @08:25PM
(#10101038)
If Congress would repeal the Carter-era export ban on crude oil, that would go a long way towards re-balancing the North American markets, but that seems to be a low-probability event.
Once the tanks are all full, options for producers will include going bankrupt, smuggling, and... oh, yeah, dumping $100k's on lobbying Congress. I anticipate option 3, even though the warming goons and refiners (bedfellows...) will probably fight it tooth and nail.
Once the tanks are all full, options for producers will include going bankrupt, smuggling, and... oh, yeah, dumping $100k's on lobbying Congress. I anticipate option 3, even though the warming goons and refiners (bedfellows...) will probably fight it tooth and nail.