Imbalances? Risible rubbish!

Why can't the usual plethora of market manipulators finally accept that a market is just that, not their personal plaything from which to reap billions from a largely captive market!

Well it was, past tense!

Now it is finally functioning like any other commodity does in a free market, due to supply and demand constraints, and as long as the chinese economy is "faltering" the price will decline from lack of previous demand?

And then it's every supplier for himself, with the Saudis having enough vision to replace their former dependence on crude alone, to now mix it with the big boys as a large scale refiner.

The market is the market is the market and that is how it should be!

If people want to risk their billions in safe bet energy, they would be well advised to look at the cost competitive, viable, post oil, carbon free alternatives; and set themselves up for a hugely prosperous future, and indeed an actual future!
Rhrosty.

This is market failure for two reasons. Firstly Saudi Arabia is losing money and will go broke in a few years. Some say they need an oil price of $106 a barrel, double the current price. I see now UAE wants to overproduce so they can go broke as well.

Secondly oil was formed in the ground tens or hundreds of millions of years ago. Every day nearly a billion combustion engines use it ..cars, trucks, scooters, planes, buses, tractors, lawnmowers and generators. We need some kind of smooth transition to alternatives. That means higher liquid fuel prices. It seems unlikely there will be an alternative power source for aircraft. A rude shock seems to be in store. No wonder Paul Ehrlich doubts we'll make it to the late 21st century.

Blame OPEC, I was going to thank 'em! Sensible oil prices will allow the poor of the world to be lifted out of desperation.

Taswegian German fighters put up a pretty damn good show flying on petrol produced from coal. South Africa today produces a reasonable quantity of it's liquid fuel that way.

It is a good thing we have plenty of coal to use to supply the world with liquid fuel, when/if oil becomes too expensive. Hell we might even be able to earn enough to pay our debts off.