I don’t want to hear about some surprise, “less than expected” build in crude today. How anyone had enough sense to try to fool my teeming millions into thinking that America would just keep piling on is sad. Of course the new production of U.S. crude to over 9 million barrels per day made us punch drunk. We overpaid high school drop outs MBA money to sit in oil fields to watch for leaks.
Crude oil's rapid decline since August of last year has been dramatic. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense.