You guys will want to read the whole piece. Cramer says what’s happening in the Permian is changing calculations all over the place.
The Rats can keep a lot of Canadian oil off the market by limiting the flow with the aid of their buddy ole Warren Buffet. The access to refineries in the Permian has been there for decades. I know, I grew up there. The libtards screwed up this time. By getting oil to the price they wanted they made frakking profitable. They tried to kill it and are trying to kill it like they did last time in the 70’s but this time it appears technology made it cheaper which wasn’t in their equation!
People we have exported American jobs to China now for more than one entire generation.
A massive communist country, now makes more than America makes.
Bring back American production. Stop importing everything.
this is the best way I can think of to destroy the Russian economy and bring Adolph Putin to answer for his disastrous policies.
The drop in oil is being accomplished in large part because the Saudis are dropping their prices to limit the expansion of foreign production and to prevent competitors from getting into the market
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One thing not mentioned here is that we are not exactly in an economic boom. GDP growth has been tepid at best in recent years. In fact, the world economy seems to be slowing down. All this lessens the need for oil.
But but but...
if oil becomes cheap, people won’t support “alternatives”.
Yep, that’s right. It’s a matter of worldview.
If you believe God created all of this and put us in it, then obviously the oil is here for us to discover and use - He actually MANDATES that we do.
If you believe the earth is a special kind of accident - it could be destroyed at the slightest misstep by Man, so Man must be strictly controlled by Those Who Know Better so as not to accidentally destroy the erf.
Ping!
Personally, I think he is wrong about cheap energy being a good thing. Cheap energy was one of His Blessings that when combined with His Blessing of Liberty was what made America. It will again, if “His People remember and call on Him”. That is ALL it will take and we can send the Rats scurrying. Please don’t talk to me about voting for Gillespie or McCain or whatever RHINO de jour. Thinking that if we just had the proper sort of congresscriminals would make a difference is right up there with”Next year in Jerusalem”.
The real cause of the stock market fall is the fact that ISIS is selling oil at $30 a barrel on the black market. It has Saudi Arabia trying desperately to lock in its customers. ISIS is selling $3 million a day in oil.
Why isn’t the media reporting this? To prevent panic? To prevent war? Only the Shadow knows.
Export...................
Lower energy costs lowers everything and makes profit for companies. Low cost gas is good for everyone including the producers.
Pray America wakes
dropping the price of oil is a good thing in so many ways.
1. America is a consumer, so our standard of living will be better
2. Enemies like Russia, Venezuela and Iran that are dependent upon oil income will be forced to draw back
3. Unprofitable renewable schemes will be pressured to be dropped.
Sure, there will be short-time drawbacks on rigs drilling in this country which will impact the oil industry.
However, I have been in the industry long enough to have seen this cycle a number of times. Prices will return. In the meantime, innovation in the industry will continue and it will figure out how to make money at lower prices.
It always does and these down cycles spur some of the best innovation and ideas as it becomes a necessity.
Low energy prices is bad??
Perhaps temporarily for the energy industries but for everything else it’s great.
Jim Kramer is always wrong. If he says the sky is blue, it’s cloudy. If you want to be correct, do the exact opposite of what he says.
I’ve been watching his schtick for years, and I have yet to see him make a single correct prognostication.
ass........ hole in the ground
Permian oil my ass. Oil is declining in price because the world economy is declining toward depression.