There Goes Crude...
No question that one day the limited oil resources is going to cause prices to go through the roof, but when every oil producer and oil producer wanna be put their supply on the market at the same time, the price goes down.
Speculators that thought that oil couldn't possibly go lower have been buying it up and storing it . The ability to continue to store and pay for the increasing storage costs is catching up to these fools.
This was so predictable...
The Oil Glut
Oil Going To Over Supply?
A friend sent me a picture of a graph showing that there just aren't buyers right now. I am no good at linking that kind of thing.
So, energy is an industry to watch as I suspect there will be a shakeout and money to be made eventually.