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OIL IS CRASHING ($68.90 Bl)
BI ^ | 11-27-2014 | Myles Udland

Posted on 11/27/2014 10:13:07 AM PST by blam

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1 posted on 11/27/2014 10:13:07 AM PST by blam
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To: blam

WTI

2 posted on 11/27/2014 10:14:52 AM PST by blam (Jeff Sessions For President)
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To: blam

Is this good or Bad Happy Thanksgiving to you Sir


3 posted on 11/27/2014 10:15:06 AM PST by al baby (Hi MomÂ…)
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To: blam

not in the east coast it isn’t- still $3.30 a gallon of gas here- you’;d never know oil was down to 69$ a barrel-


4 posted on 11/27/2014 10:15:49 AM PST by Bob434
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To: blam

Time for an import tax. Sorry, but free market purity DOES NOT triumph national security on this.

F**k OPEC up the rear this time. No more allowing the Saudis to screw with our domestic energy push.

And remember fellow Conservatives . . . LOTS of jobs in this country are at risk due to the Saudi shenanigans.


5 posted on 11/27/2014 10:15:54 AM PST by LRoggy (Peter's Son's Business)
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To: blam

There go those greedy oil companies manipulating costs again........


6 posted on 11/27/2014 10:15:58 AM PST by umgud (I couldn't understand why the ball kept getting bigger......... then it hit me.)
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To: blam
Remember the Good Old Days


7 posted on 11/27/2014 10:16:22 AM PST by McGruff (If you like your current Democracy you can keep it. Period.)
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To: blam

Bye bye Bakken

Thats what Sauds want gone


8 posted on 11/27/2014 10:16:32 AM PST by Regulator
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To: blam

Looking forward to (hopefully) some of the responses from savvy freepers that are in this line of work. What is the bottom line when American frackers and oil companies hang it up for a while until the price comes back up?
Me personally, I welcome the low prices but as i understand it (from a few previous threads), too low will put some serious hurt on quite bit of the country as the “market” equalizes (which takes more time than there are “jobs” out there for out of work oil workers).


9 posted on 11/27/2014 10:16:54 AM PST by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: blam

Is there a chart out there that shows the price of oil in relation to gasoline prices, year to year/month to month?


10 posted on 11/27/2014 10:20:23 AM PST by mark3681
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To: LRoggy
Is this good or Bad

Neither. Prices fluctuate. It's good for some, bad for others.

They say that the cure for low oil prices is low oil prices (stimulates demand, raising the price). They also say that the cure for high oil prices is high oil prices (depresses demand, lowering price).

11 posted on 11/27/2014 10:22:00 AM PST by Pearls Before Swine
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To: blam

I suspect this has something to do with reining in Putin. The House of Saud will just make less money. Russia will be hurting.


12 posted on 11/27/2014 10:22:16 AM PST by Nepeta
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To: LRoggy
Agreed. OPEC will try to kill off domestic US oil production. Lowering oil prices will make it economically unfeasible for domestic oil production. The Saudis can control the price of oil thru production levels.

On the other hand, the economies of Russia and Iran to name just two are heavily dependent on oil prices. Lower oil prices hits them hard, which isn't a bad thing.

13 posted on 11/27/2014 10:22:24 AM PST by kabar
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To: blam; thackney; Smokin' Joe

Ping


14 posted on 11/27/2014 10:24:14 AM PST by gaijin
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To: expat_panama

Looks like another leg down on oil.


15 posted on 11/27/2014 10:25:41 AM PST by Lurkina.n.Learnin (It's a shame nobama truly doesn't care about any of this. Our country, our future, he doesn't care)
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To: LRoggy

Totally agree.

America first...


16 posted on 11/27/2014 10:25:44 AM PST by crusher2013
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To: Ghost of SVR4

I think that our production here has factored in the lowered price of a barrel of oil.They had to know when our production went up the price was coming down.I could be wrong.


17 posted on 11/27/2014 10:26:31 AM PST by HANG THE EXPENSE (Life's tough.It's tougher when you're stupid.)
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To: blam

There went the fracking boom. Costs in oil sands production are cheaper, and the Keystone XL should have been given the red carpet treatment instead of rotten eggs from NIMBY constituents in the shadows (anti-competition businesses).


18 posted on 11/27/2014 10:26:47 AM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: kabar

“On the other hand, the economies of Russia and Iran to name just two are heavily dependent on oil prices. Lower oil prices hits them hard, which isn’t a bad thing.”

Which is why I want to do it with an import duty. This only affects our imports and shelters the domestic producers in the build out stage. Dedicate the money to infrastructure in the industry, such as helping to build out natural gas stations on the highways and other locations. Also subsidize the purchase and reconfiguration of civil fleets to natural gas and tax credits for long-haul truckers to change fuel sources.


19 posted on 11/27/2014 10:26:57 AM PST by LRoggy (Peter's Son's Business)
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To: Bob434

Gasoline here went UP a nickel a litre yesterday to $1.14/l. That’s $3.89USD/USG from $3.71.

Looking at the recent history of crude oil prices, I am confused to say the least.

http://www.fedprimerate.com/crude-oil-price-history.htm


20 posted on 11/27/2014 10:26:58 AM PST by Don W (To laugh, perhaps to dream...)
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