Mohacsy's Safe Portfolio Member Forum

[Elroy Jetson]

It's amazing how supply and demand has changed for oil.

They've been drilling in the Permian Basin in Texas for 96 years and simply by using the new geologic fracturing technologies it's like the largest new oil discovery in history at rock-bottom production prices, with no exploration costs.

I really don't see the price of oil climbing much over the current $50 per barrel, like $1 per gallon. Perhaps $68 at the peak. But the US economy is slowing very quickly right now - so I'd think $42 is a more likely target.

Here's a head case - http://www.marketwatch.com/story/contrarian-fund-managers-expect-oil-prices-to-double-to-100-by-2018-2017-03-21