I heard Mexico and Canada is selling oil below 20, OPEC guys are settled on 27? There is competition in the market...I don't foresee oil going back to 40 to 50 levels by 2017. Current levels are healthy for the global economy and the major powers. Low prices of oil is help America, Europe, Asia to come back from the hit of the financial crisis. Its only the oil producing countries that will be effected for now. But these oil producing countries should have had fiscal reserves for the next 10 years, from the proceed of the oil sales for decades. What happened to all that money? That is the question!
I heard Mexico and Canada is selling oil below 20, OPEC guys are settled on 27? There is competition in the market...I don't foresee oil going back to 40 to 50 levels by 2017. Current levels are healthy for the global economy and the major powers. Low prices of oil is help America, Europe, Asia to come back from the hit of the financial crisis. Its only the oil producing countries that will be effected for now. But these oil producing countries should have had fiscal reserves for the next 10 years, from the proceed of the oil sales for decades. What happened to all that money? That is the question!