lol he makes "Neeley Biofuels posted a net gain of 41 cents per gallon" sound like a bad thing. A year ago everyone would of been dancing in the isles to see that number.
I'm not trying to paint a rosy smile on a difficult situation, but Rick has been lamenting the blues for weeks now. You could probably cut and paste that and spare Eyore the trouble of writing anything for tomorrow.
Yes the weeks ahead are going to suck. Yes we'll probably see oil hit $40 before there's any bounce. Until then, neither the shale nor the oil sands producers will have the brains to pull back. Until producers pull back on producing, nothing is going to stop the downward motion. More to the point though, this is as much or more about politics and a war of submission as about supply and demand. It's not like the powers to be suddenly woke up one day and the world had changed overnight from supply meeting demand to supply exceeding demand. Russia is getting crushed. So too, Middle Eastern countries are getting set up for another Spring of Discontent when those in power find their bank accounts a little short and they can't buy internal peace from the masses.
Meanwhile, we're all just puppets on a string. The more hand-wringing they can produce, the better for them. Sell! Sell! Sell! They were miles ahead in setting the stage and shorting the plays, long before they raised the curtain on the latest act. So too, they'll have bought up everything they want before the next act in the Spring finds us waking up one day and being told that overnight we went from drowning in oil to not having enough for an oil change on your car.
