oil- another thing i am all alone on is this:
So House of Saud crushes 50% or more of US oil frackers. new wells stop rigs go into the yard. Assets get sold off at 80% of their prior value. Oil is dead.
someone bought those assets. Cheap. The Asset infrastructure is in place.
Yes it take time to ramp up once PPS rises. Yes, labor stil costs. but even that could come down 20%. The oil leases get purchased cheap cheap cheap.
on the outside it will take 12 months from pps rise for drillers to resume. maybe not at the frantic pace, but Texans will drill for oil. it is in thier DNA.
This is never mentioned. They talk about the bust all the time. But the boom also comes back.
The biggest threat to oil is the tree huggers. The dems, California and DC to Boston just do not get Oil is jobs, it is taxes, it pays for health care, schools, families to live.
Rant over
