Thank you b.p . I started my career as a school teacher , and had a stint as a missionary for a few years , on returning to Aus I entered the commercial field ,and then worked for Delhi petroleum , Esso , and lastly Santos . Finally I spent twenty years with BHP before retirement . In my time I have seen similar situation as this oil rout repeated time and again . The thing that raises oil above every other commodity is that we are all oil customers . We depend on it for our quality of life , and as the eastern world catches up with the western world consumption will continue to rise . I feel that the Saudi's got it completely wrong , they could have achieved their goals by commerce and diplomacy , instead they chose the hammer . I think they will get their way , but only for a while , maybe five to ten years , as new science and technology kick in less oil will be needed . But that is a long long way off into the future ..... Good luck and stay strong things will rebalance ..
MRM Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held
