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<blockquote data-quote="thisisright" data-source="post: 900879" data-attributes="member: 10568"><p>We might have the question the order way around: Why is the price of oil so high? It costs $15 to extract oil from Saudi Arabia and the Emirates. Maybe $20 is a fair price and we don't need these rich middle-east guys.</p><p></p><p>I think people who are long on oil should be careful with this. The price of oil was not subject to demand/supply in the last decade. If it was, then the price would be $15 + whatever small profit you could survive on.</p><p></p><p>We might have been in a big bubble and the prices might never get back to the levels where they were...</p></blockquote><p></p>
[QUOTE="thisisright, post: 900879, member: 10568"] We might have the question the order way around: Why is the price of oil so high? It costs $15 to extract oil from Saudi Arabia and the Emirates. Maybe $20 is a fair price and we don't need these rich middle-east guys. I think people who are long on oil should be careful with this. The price of oil was not subject to demand/supply in the last decade. If it was, then the price would be $15 + whatever small profit you could survive on. We might have been in a big bubble and the prices might never get back to the levels where they were... [/QUOTE]
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