This post How The Mainstream Is Wrong About The Oil Market appeared first on Daily Reckoning. Dear Resource Hunter, There is a lot going on all of the sudden… normalization of U.S. relations with Cuba… the collapse of the ruble… Fed policy chatter that sent the markets into a frenzy… and more. It’s hard to keep up with it all. But the biggest story of the year has to be the collapse of oil prices. As to the effects on the economy, the mainstream gets it entirely wrong, as I’ll show you below. In what follows, we take one last look at 2014 — how we did and what to look for in 2015. We’ll begin with oil… As you know, the price of West Texas Intermediate crude oil fell from $107 in June to $57 per barrel by early December.
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