Oil Will Fall Sharply Lower Than Anyone Ever Imagined

I wrote about one of the reasons this likely will happen in a previous article. One of the reasons is businesses want to keep customers because they are the life blood of any business. So, even if an oil business is headed for bankruptcy potentially, they will try to keep those customers by selling below cost for a short while. This is one of the reasons why Oil could go to $10 a barrel or even one penny a barrel because of this factor.However, the real worry would be if it stayed this low for 1 year or more. Then all bets would be off and someone is trying to put all or 99% of all oil companies out of business on earth at that point. However, then there is the fact that solar will be cheaper than oil in all countries on earth by 2026. And all these many factors of time play into all this as well. Because if solar is cheaper than oil everywhere people will stop using it for energy and then use it only for plastics and lubrication only over time.

• Dennis Gartman: Oil Will Fall Sharply Lower Than Anyone Ever Imagined

  Commodity guru shares his extensive outlook for crude oil. Dennis Gartman is the man behind The Gartman Letter, a daily newsletter discussing global capital markets. For more than 20 years, The Gartman Letter has tackled the political, economic and social trends shaping the world’s markets, and Gartman himself is a frequent guest on CNBC, Bloomberg and other financial media outlets.

  ETF.com

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