Meanwhile, the Saudis are raising their output, Iran will keep pumping with smaller and smaller margins. They want to put high-cost producers like the Canada and the US out of business. So have fun with it, guys.
Maybe after the days of being an "energy superpower" those pipelines could be re-engineered to pump water from the Coast back to the prairies.
Careful with your sources. Kilduff has been calling for $25 oil since January and look at it now. Crude futures are even up a little, maybe they decided to play nice after all.