Replies to post #1769 on Legend Oil and Gas Ltd (LOGL)

[work-n-hard]

This makes me chuckle. I watched someone on CNBC talk about the prospect of this about 6 months ago. He didn't think it would happen for this reason, which makes a lot of sense, which is why I laugh:
OPEC cuts production - Prices go up - Higher prices helps US producers - US starts pumping more oil - Northern Hemisphere demand goes up during the summer, N.H. is where the majority of the world's money is. - Buyers struggle to find enough oil to fill higher demand. - OPEC buyers turn to the exploding US producers to fill the gap. - They are now regular buyers of the "new oil" in the US and OPEC looses market share. (otherwise known as cutting your own throat.)
RESULT, IMO, the entirety of the US production group prosper! (Everyone down the line. All the way down to the folks who sell boots to the workers.)