hilly sandman Again great and positive investor comments on this sight at last . This morning I watched a video on Bloomberg entitled " Bust Town ; The human cost of cheap oil " Set in West Texas in the Permian Basin, where 400 of the once 560 oil rigs sit idle near Odessa Texas . This is a tragic story of human suffering that is repeated across America's Shale oil Industry , not to mention Canada 's oil sands . The even worse human tragedy in Venezuela , Nigeria, Angola, Algeria, Libya , Ecuador, Central Asian countries . In fact all oil dependant Countries are at or past breaking point . Russia has called another meeting of OPEC , and perhaps this time they will cut production . It is a bit like herding cats though , But Russia does have the military muscle . American surplus storage rose again , but it always grows during Northern Hemisphere winter , Spring and Summer usually draw down over supply , China imports rose by 18% in Feb , Perhaps because of a draw down of reserves due to Chinese New Year holiday break . I think we will see a rebalance in the near future ... Good luck Mermaids...
MRM Price at posting:
37.5¢ Sentiment: Hold Disclosure: Held
