Crude Oil Is Crashing Again ($46.77)

BI ^ | 1-12-2015 | Myles Udland

[blam]

Myles Udland
January 15, 2015

Good morning!

It is a new week and crude oil is making new lows.

(snip)

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[central_va]

Just shows how manipulated oil prices really are.

[2ndDivisionVet]

$1.65/gallon for unleaded regular here.

[Buckeye McFrog]

$2.39 a gallon here this morning. Even with the Corbett Tax slathered on top.

[blam]

The Great American Oil Bust Is Only Just Beginning

The Pace At Which US Rig Counts Are Tumbling Is Unusually Intense

[Arthur McGowan]

What does anyone expect, with an illegal-alien, Saudi-funded Moslem Brotherhood operative posing as “President”?

[blam]

Oil Has To Plunge Even Further Before The Shale Industry Gets Seriously Damaged

[InvisibleChurch]

is there an issue with low oil prices?

[thackney]

Just shows how manipulated oil prices really are.

It shows the effect of rising production and a global demand that is not keeping up with that increase. Also a lack of the ability of OPEC to act in unison so far.

[Paladin2]

Speculators can,t go against the trend in the short term. Too bad they can,t be made to take delivery.

[blam]

"What does anyone expect, with an (Anti-American) illegal-alien, Saudi-funded Moslem Brotherhood operative posing as “President”?"

[MHGinTN]

You left out sexual degenerate liar ... ask the Turks how it is that a homo is appointed by L4B as ambassador to their Islamic country.

[Durus]

I suppose we are supposed to be crying because the over inflated oil market that the Saudis have been desperately trying to keep propped up is collapsing. Boo hoo or whatever.

[thackney]

Compare the production growth to the demand growth over each quarter of 2014.

[thackney]

that the Saudis have been desperately trying to keep propped

Most of OPEC is complaining that Saudi won't try to limit production for OPEC to raise prices.

[Durus]

The Saudis can’t limit production because of the way they are extracting oil and their storage is almost always full.

[kiryandil]

$100 oil was a tax to re-capitalize the Too-Big-To-Fail banks.

Did you enjoy bailing them out?

One of these days the peasantry is going to figure out that they're nothing but milch cows for their Owners in the government & the FIRE industries.

Look at the NYPD bosses screaming about the quotas not being met (well, even though there are "no quotas")...

[SunkenCiv]

It just goes to show you how market-driven oil prices are. Borrowing from a different context, suppliers can change the market, but can’t change the rules under which it operates.

[thackney]

because of the way they are extracting oil

Can you explain what you mean by that claim?

[kiryandil]

“And you can bet that since it’s an election year, they’re already dusting off their three-point plans for $2 gas,” Obama continued. “I’ll save you the suspense: Step one is drill, step two is drill, and step three is keep drilling. We heard the same thing in 2007, when I was running for president. We hear the same thing every year. We’ve heard the same thing for 30 years.”

“Well the American people aren’t stupid,” Obama said in a speech in Miami. “You know that’s not a plan — especially since we’re already drilling. … You know there are no quick fixes to this problem, and you know we can’t just drill our way to lower gas prices.”