over supply of oil
in response to
by
posted on
Jan 13, 2009 12:26PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
I heard on Bloomberg that the an important day I think is this week or next week is the supply of oil in the US. He said that the US is close to being in an over supplysituation and if that's true that the price per barrel will fall to 30 to 35 (or lower) range to where we are close to now. My thoughts is that thats all nice and rosy for now but summer will come as it does every year and the driving picks up and that over supply will start to decline quickly, electric or hybrid cars are nice and dandy but will years before they outnumber gas vehicles. Jokal