BI’s Joe Weisenthal writes: Earlier today we reported on the
BofA/ML analyst who thinks it's possible that in the next 24 months, prices of
West Texas Intermediate crude (the benchmark for US-borne oil) could fall to
$50/barrel. The basic gist: Thanks to oil from shale, production is growing
like bonkers, and it will overwhelm the infrastructure, leading to huge gluts
and collapsing prices.
There's a new phrase being bandied about and that's
"Saudi America."We first noticed it earlier this month when Morgan
Stanley's Evan Calio used it to title a note. The economist Mark Perry used it
on Twitter earlier this week, as well…..
Find out still more:
http://www.businessinsider.com/why-people-are-starting-to-talk-about-saudi-america-2012-12?op=1#ixzz2DuLKlrtv
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