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Absolutely it can get down to $50
gunnerrat Views: 3,788
Published: 13 years ago
This is a reply to # 1,224,820

Absolutely it can get down to $50

My memory is a little fuzzy, but I seem to recall it costing $10-15/barrel to get the oil out, so it's certainly possible to get it to $50. All it requires is the will and coordination of the powers that be to do it. They've built up the lie that the high costs are related to increasing demand exceeding supply. With new big oilfields getting ready to come online, they could theoretically tell the story that supply problems are now/will be resolved and the high price is no longer justified.

What I'm trying to understand is why they want the dollar to collapse, and if it will really send OPEC countries into bankruptcy. My *guess* is it sets the stage for NAFTA, and $50/barrel at that time translates to <$20/barrel in pre-2000 dollars, given the collapse of the dollar since then. All the securities the shieks hold will be worthless. Just guessing.

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