[Plantagenet]

Of course no full-blooded American would ever leave his car and touch the greasy pump himself, just to save a few lousy pennies, when a uniformed negro could do it for him.

Do you also have a uniformed black man to drive your limousine for you so you don't have to touch the greasy steering wheel?


Cheers!

[ralfy]

ralfy - "...which means they need to sell goods at lower cost. But they are also in competition with each other, which means they want to generate more sales." Which leads me to repeat what I've posted else that relates to why lower oil prices have lead to an increase in global production:

"Some folks keep talking about "poor" ole OPEC is these days. But the data is clear and simple: from the day OPEC produced its first bbl of oil until 2007 it has never received as much revenue (adjusted for inflation, of course) as it is pulling in today."

The KSA increase in production had nothing to do with shutting down the US shale players. It was a response to lower oil prices and the need for more revenue.

The purpose for generating more sales is to generate more profits. Given that, I'm guessing that the oil industry assumes that not only will oil prices rise in the future to cover their previous debts, it will rise even higher to cover future debts. That also assumes that in the future the global economy will be able to pay for much more expensive oil, and buy more of it.

[vtsnowedin]

Well Duh! Pstarr. Rex has worked for Exxon from right out of engineering college forty years ago.He was set to retire next year anyway. So he pulls a gig of three to six years as Secretary of State like the Eagle scout he was and is.

Or maybe he'll do pretty much the same job he did before, just from behind a different desk. Cutting out the middle man makes things so much simpler.

That is pretty cynical of you.

[vtsnowedin]

1). And why should we believe the current forecast more than past ones?

If I played Russian Roulette and the gun went "click" three times already... I might start thinking. And remember that the gun is loaded.

I suggest you never play Russian Roulette as you have misconceptions about the rules and how the "game" is played.