Oil has us in a cleft stick. It doesn't matter if oil goes up or down in price, either way it snookers us. Too dear people stop using it, which is what is happening now with one in 3 planes idle and one in five cars staying home. Too cheap [below $80bbl] and producers will go belly up as the easy oil is only available in a few places. That's already happening as we see oil companies having to sell off inventory and take out loans to pay dividends.
Oil has us in a cleft stick. It doesn't matter if oil goes up or down in price, either way it snookers us. Too dear people stop using it, which is what is happening now with one in 3 planes idle and one in five cars staying home. Too cheap [below $80bbl] and producers will go belly up as the easy oil is only available in a few places. That's already happening as we see oil companies having to sell off inventory and take out loans to pay dividends.