It is happening but many oil wells you just cannot close them down, in the North Sea for instance, many Russian oil fields you just cannot close them down. First and second of all, many people do not believe when prices are down, it takes a while for it to stink in that they really want to close their fields.
But its happening, its happening now, massive cuts are being made in exploration budgets, it is happening.
(United States Oil Fund LP ETF (USO), Energy Select Sector SPDR ETF (XLE), Exxon Mobil (XOM), Marathon Oil (MRO), ConocoPhillips (COP), Nymex Crude Oil futures)
Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several investing books and also a renowned financial commentator worldwide famous for his contrarian views on financial markets.
- ► 2017 (130)
- German Bunds: Can Yields Go Even Lower?
- If Markets Get Worse, Central Bankers Will Come To...
- Crude Oil: Production Is Being Cut
- Crude Oil: It Will Go Back to 150 Dollars A Barrel...
- Crude Oil: Production Cut, Venezuela, U.S. Frackin...
- The Mistake Central Banks Are Making
- Markets: We Will Have A Rally And Then...
- Central Banks: "It is going to be a disaster in th...
- Central Banks: Trying To Do Everything To Make Mar...
- Markets: U.S. & Europe Are Likely To Be The Most A...
- Markets: World`s Problems Will Affect China, Asia
- Markets: Rallies Will Be Short Lived
- Markets: The Next Couple Of Years Are Going To Be ...
- Stock Market: This Has Been Going On For A While
- Markets: 2016, 2017 Will Not Be Good Years
- Investing: If People Laugh At Your Idea You Are Pr...
- Why Own Physical Gold
- Markets: How I Invest
- ▼ February (18)
- ► 2015 (298)