Richard Zeits On The Accelerating Crude Oil Supply -- Seeking Alpha -- January 26, 2015

Richard Zeits is making the same observation the RBN Energy has been make for some time now.

Link at SeekingAlpha, the summary:

• The supply/demand imbalance in the oil market deteriorated in the past seven weeks.
• In the U.S. alone, the total oversupply increased by over 1.1 million barrels per day, judging by inventory data.
• Spare storage capacity in the U.S. is quickly shrinking, and the short-term contango is widening.
• Such dynamics would hardly be possible without proactive supply increases by key global exporters.
• At the current pace, a true "oil glut" may arrive in just a few months. 

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Regular readers know the fun I have with Patrick Kennedy (or whichever Kennedy it was) who said that due to global warming, the Kennedy children (and your children) would never see snow again. I can't make that up. He didn't say your great-great-great-great grandchildren, but your children.

My children and grandchildren have seen a lot of snow since that comment was made.

If the Kennedys have missed the snow, they will get another chance this week.