| Oil is at $98.50 this morning — the highest in a month. That release of strategic reserves is working out like gangbusters, eh? Heck, Barron’s had a cover story a few days ago about oil reaching $150 by next spring. It cited some of the same data we cited four months ago, about “spare capacity” — or lack thereof.
“Spare capacity,” we pause to remind you, is the ability of oil producers to jump-start new oil production within 30 days and keep it up for at least 90 days..............................................Full Article: Source
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