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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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To: blam

Oooooh, I can’t wait til Maxine Waters gets to the bottom of this with Senate hearings.

This is a multi-moving part phenomenon and I can’t claim to see more than a modest portion of it.

It’s oddly very Reaganesque in the sense that it is probably very oppressive to Russia, but that, too, is a different set of factors with the very weak president we have and the heightened aggression of Russia. It will probably drive Russia to export more weapons and cement further their budding alliance with China.

It will probably bolster the increasing strength of the US dollar and continue the story of “very low inflation” which will make bonds more attractive and allow the US to persist in neverending debt as bonds, despite how low a coupon they pay, remain very attractive.

It’s a massive, massive boost for the US consumer, very probably the most in-your-face and most widespread same-kind-of-thing as a tax cut but it is instantaneous.

Probably quite bearish for gold. Very bullish for the stock market.

What else?


41 posted on 11/27/2014 10:45:43 AM PST by Attention Surplus Disorder (At no time was the Obama administration aware of what the Obama administration was doing)
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To: blam
"There Will Be Blood": Petrodollar Death Means A Liquidity And Oil-Exporting Crisis On Deck

"Recently we posted the following article commenting on the impact of USD appreciation and dollar circulation among oil exporters, as well as how the collapsing price of oil is set to reverberate across the entire oil-exporting world, where sticky high oil prices were a key reason for social stability. Following today's shocking OPEC announcement and the epic collapse in crude prices, it is time to repost it now that everyone is desperate to become a bear market oil expert, if only on Twitter..."

42 posted on 11/27/2014 10:46:20 AM PST by blam (Jeff Sessions For President)
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To: blam

NO kidding.... I filled up today and I only paid $2.67 per gallon.


43 posted on 11/27/2014 10:46:37 AM PST by Nifster
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To: Ghost of SVR4

I doubt that there will be a “walking away”. More likely new drilling will slow and or stop.


44 posted on 11/27/2014 10:47:46 AM PST by taxcontrol
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To: Attention Surplus Disorder
"Probably quite bearish for gold."


45 posted on 11/27/2014 10:48:26 AM PST by blam (Jeff Sessions For President)
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To: McGruff
The illegal occupant of the White House, Kenyan-born hussein, is obeying his marxist muzzie masters. His corrupt administration has imposed confiscatory taxes and burdensome regulations on the domestic energy industry, leading to soaring prices at the pump. Yet, his policies have also caused the price of oil to plummet, killing profits of energy corporations.

We're feeling the damage here in Texas both ways:

When the Cruz/Palin duo rights the ship in 2017, things will improve. That presumes that America won't be too far gone by the time hussein's plans to institute a caliphate are realized.
46 posted on 11/27/2014 10:50:32 AM PST by re_nortex (DP - that's what I like about Texas)
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To: blam

by exporting oil, don’t we increase the value of the dollar, thereby decreasing the cost of imported oil?

And if our shale production has forced the Saudi’s to lower prices, doesn’t that now mean we (the US) have control over world prices? Or at least put a ceiling on world prices?


47 posted on 11/27/2014 10:51:14 AM PST by JPJones
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To: blam

This might have the effect of forcing shale developers to slow or stop operating for a while, but the black juice is still sitting there under the ground, patiently waiting for the day that it is needed. And OPEC can’t get their hands on it.


48 posted on 11/27/2014 10:54:12 AM PST by lurk
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To: American Constitutionalist

I am in the middle of more than a couple fracking pads. They are fracking at 6000ft below the surface. You can barely tell there are pads in the area unless really looking for them. I only have a couple acres but have signed a lease. If it pans out, I could be debt free in four years if they touch anywhere beneath me; there again, with directional drilling, they could go right around my little parcel of land. At any rate, in my general area, fracking has been outstanding for the communities and our local economies are showing the results.
I too hope the technology becomes better and better. I would love nothing more than to hear we no longer needed involvement with OPEC (and and end to the liberals tired meme of “it’ll take ten years to -insert inane argument here- before we see results, so why bother?”)


49 posted on 11/27/2014 10:55:39 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: Bob434
Enegy & Oil prices

Here is a link that you can track the "wholesale" price of gasoline, actually futures contracts--RBOB(unleaded) gasoline running at $1.9204. Add your state and federal tax and about 20 cents for profit and transportation and your estimate will be within a few pennies of what gasoline will be selling for in the near future.

For my location that portends a $2.5055 or ~$2.51 give or take a few cents. There are 6 stations in my zip code selling gasoline at $2.50 to $2.55 per gallon!

50 posted on 11/27/2014 10:56:15 AM PST by Calamari (Pass enough laws and everyone is guilty of something.)
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To: blam

Barry is hoping it will put the US Fracking out of business


51 posted on 11/27/2014 10:56:17 AM PST by molson209 (Blank)
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To: Nifster
A few days ago, at the RaceTrac station, it was $2.39 per gallon. Based strictly on the prices through the years of the corrupt hussein reign, that seems low. But, when Newt Gingrich's Conservative sweep restored prosperity, gas was merely 78 cents a gallon. So hussein has increased prices over THREE TIMES as he continues to enact policies to enrich his mideast muzzie masters.

The chart below vividly shows the damage to America during the time that the regime illegally seized power.


52 posted on 11/27/2014 10:56:18 AM PST by re_nortex (DP - that's what I like about Texas)
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To: Pearls Before Swine

Bad for a few, good for the overwhelming majority.

I spend a fair amount on fuel every month. The extra savings go to my family.


53 posted on 11/27/2014 10:56:21 AM PST by Tea Party Terrorist (Why work for a living when you can vote for a living?)
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To: blam

A lot of my clients work in the oil fields and (like my business) it is either feast or famine for those guys.
Sure I’d like lower gas prices at the pump, but if my income drops because clients can’t pay then it’s a net negative.


54 posted on 11/27/2014 10:56:22 AM PST by Clump ( the tree of liberty is withering like a stricken fig tree)
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To: lurk

“This might have the effect of forcing shale developers to slow or stop operating for a while, but the black juice is still sitting there under the ground, patiently waiting for the day that it is needed. And OPEC can’t get their hands on it.”

Sounds great in theory but all of a sudden you get a LOT of out of work, highly-compensated blue collar workers in Red States.

And implicitly give the Blue State environmental wackos an undeserved victory.


55 posted on 11/27/2014 10:57:38 AM PST by LRoggy (Peter's Son's Business)
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To: Sam Gamgee

Only thing I can figure is with lower fuel prices, it is cheaper to move product from the production line / warehouse to the store shelves so prices go down at the stores and we are left with more money in our pocket to purchase other widgets or pay down debt which opens up capital for lenders to re-lend.


56 posted on 11/27/2014 10:57:43 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

Maybe this is a sign the Obama era is pretty much over. The havoc he has been wreaking upon the world is slowly being overcome by market place forces and individual initiative in the face of unbearable regulatory burdens.


57 posted on 11/27/2014 10:58:51 AM PST by WashingtonSource
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To: mark3681
Is there a chart out there that shows the price of oil in relation to gasoline prices, year to year/month to month?

Gas would have a signifant cost even if crude oil were free.

I don't know of a chart. I don't know if it would provide any useful info.

58 posted on 11/27/2014 10:59:01 AM PST by bankwalker (If you ain't scared, then you ain't payin' attention!)
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To: Clump
Sure I’d like lower gas prices at the pump, but if my income drops because clients can’t pay then it’s a net negative.

I shudder to think of my stock portfolio since I'm an XOM shareholder. Profits are being killed by the hussein administration...just as he planned. Between his support for union thugs, the illegal minimum wage, skyrocketing corporate taxes, criminal invaders and burdensome regulations, the energy sector is being crushed like never before.

Hope is on the horizon when Conservatism and pro-business policies are enacted in 2017. That is...if hussein hasn't completely destroyed the Republic. As Jim Robinson states, what's happening now is the regime's scorched earth campaign to establish an islamic caliphate.

59 posted on 11/27/2014 11:03:16 AM PST by re_nortex (DP - that's what I like about Texas)
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To: Eva

Where did you see that figure? I’ve been following the gas tax conversation here in the state with respect to funding transportation projects but i haven’t seen it that high.


60 posted on 11/27/2014 11:03:55 AM PST by shotgun
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