Thread: Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab
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Old 11-28-2014, 12:14 PM   #4511
scho63 scho63 is offline
Politically Incorrect
 
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Russia, Iran, Venezuela and a few other oil producing countries with deep debt and budgets planned on $125+ per barrel oil are going to start seriously "cheating" on their production quotas to try and make up the large deficits accumulating on their balance sheets.

This is a self-fulfilling prophecy when oil begins it's decline. It is hard to stop until it becomes incredibly painful for everyone and we are nowhere near the bottom yet.

I said low $60's for oil but I wouldn't be shocked if it gets down to $55 a barrel.
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