Still you can’t really think oil should be valued as the cheapest liquid on earth @ $.18 per cup. It should at least be as much as Starbucks @ about $1.50 per cup. That should be about $1000 per barrel. I did take millions upon millions of years to make. Don’t ya think?
It looks like we are seeing at least one if not more regions on the planet forced into purchasing oil at any price or face outright shortages. As each region capitulates and buys it causes a higher price forcing another buyer to attempt to stay on the sidelines using reserves in hopes of lower prices until they are too forced to buy.
Basically we have a mild, rolling oil shortage moving around the planet right now.
