Everyone’s Talking About The Price Of Oil

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I don’t see oil going any higher than $55-60 for the next FIVE years. Here’s why: 1. The US is one of the largest producers of shale. The Saudis know that. 2. The price is $60 as a break even point in order for producers to use shale. 3. If oil stays above $40-45 the Saudis are still making money. 4. One of the Saudi princes said you’ll never see oil at $100 per barrel again. • I would not take long-term positions on oil. • Oil is in a deflationary period, and it’s going to stay like that. • Gas cost me $1.95 for Regular, the cheapest I’ve ever seen it.

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