Gas and diesel rise to 2.99 in Louisville,Ky....

[Randy Wells]

Originally Posted by Eddies66

Was reading an article that the recent rise in oil prices is not because of a shortage of oil but debt and their obligation to their shareholders. The article reads: “Banks are preparing for a wave of oil bankruptcies by setting up their own oil companies to operate seized assets. Regulators in Texas are considering setting limits on the state’s production, an approach more reminiscent of Soviet-style central planning than a Republican-controlled regulatory body. An oil company executive just admitted, ″No one wants to give us capital because we have all destroyed capital and created economic waste.”


Not my opinion just a point of interest, I am looking $3.50 to $4.00 here in SoCal. But I am not driving like I did in Nevada, going 45 miles for a loaf of bread.

You crack me up Eddie, I know your the smartest person on classracer, but if you found an article like you quote you must of dug deep into some anti hydrocarbon news source that leans toward communism. You don't know sh** about oil quit pretending you do, and you might want to stay off those dark sites. Reveal your source for this BS you quote.

What you don't understand the definition of an oil company could be any mom and pop operation that services big oil, Fracking Operations, water disposal companies, wireline companies, all small business that by definition is an oil company. Yes they were hit hard by that chinese flu, and going out of business, pervert Joe's policy destroyed any chance of a rebound. But the price of oil is still based on supply and demand period. US production down 2 MBPD.
Randy Wells
I/S 5628