Originally Posted by DeezNutz
No goofiness on the micro level, though? I was getting that gist from your previous post.
Perhaps I misread?
I wrote that it will be fun (for me anyway) to watch because of a few things:
1) The recession. It should place a damper on the demand increase typically seen in the Spring.
2) If demand does jump, how high will crude climb? I would guess to around $50.00 or $60.00, which is where it should have been last year.
3) What is the trigger point for the oil companies to begin serious E&P again? If crude doesn't hit that magic number and stay there
, they won't. If demand goes back up to high levels and they aren't looking for new crude supplies, well...