Replies to post #9573 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[traderstoday]

you nuts $10/ barrel. that is what oil was in 1980's

[Ryantacular]

That was definitely said. They also said they would cut production, if others cut production, they just didn't want to be the sole source of absorbing the glut.

The glut isn't going to be an issue. Factors outside any of our control comes into play. Too many big names rely on oil. Too much of the economy relies on oil.