BACK TO THE COST OF “EVERYTHING”
As the cartel secret tax upon all peoples of the world, is fractured by the market supply and demand control versus monopoly control the people of the world have more to spend. Economic flourish as the cost of food energy and transportation drop.
Your Blog predicted yesterday oil would go down in price. The market experts all predicted oil would go up in price. But financial markets read this blog.
Today the market went down to 46.00.
This is a crushing price for OPEC Gulf members, who believing their control of the market artificial prices they set ( which reached a tax on all of us at 120 dollars a barrel ) and led to a global recession – as their unintended consequence – geared their economic planning against 70 dollar oil floor price. Now it is almost 50% off that number and falling.
Their agreement to get rid of the glut is not working. The glut is like a glacier. It goes slowly down in peak seasons and than back up in slower seasons. The demand for the core product – fuel for transportation is falling as transportation moves to far more efficient motors and electric and hydrogen. This move is irreversible away from metro fuel. As electronic moves to natural gas OPEC has lost DEMAND as its driver. Forever.
So the world as we have reported for five years – is drowning in oil. The largest new discovery in 30 years is in ALASKA. Billions of barrels. More is on the way. The market is DROWNING IN OIL. There is no way to see this plentiful fully renewable commodity rise in price long term. The Earth is FARTING OIL AND GAS. Technology is getting oil and gas for lower cost globally.
The suppliers have to AUCTION off SUPER TANKERS as Iraq did last week.
Folks the good news is the hidden tax upon the world engineered by selfish wicked elites is broken forever. The market is in control of oil and if your long in oil the blood bath is just beginning for you.
Enjoy the ride. Remember how you profited on the way up.
Now you lose.
OPEC is paying billions in extending its cut backs to lose market share forever. If that is their last gasp strategy it will fail. The world market is now laughing at them.
They are a JOKE economically speaking.
BERNY DOHRMANN – KEEPING OIL REAL FOR YOU ALL AS PRICES PLUNGE
PS: Just like we reported and we have been accurate and right all along the curve. Again.
— May 5, 2017