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wrap this up. Let's git 'er done.
Posted on 11/30/2014 6:03:03 PM PST by blam
Myles Udland
November 30, 2014
More than 50% lower.
That is how far Canadian billionaire Murray Edwards, chairman of Canadian Natural Resource, thinks oil prices can fall from here.
Speaking with Canadian business publication Financial Post, Edwards said, "Prices could spike down to $30, $40. It got down to $35 in 2008, for a very short period of time."
Edwards told Financial Post's Claudia Cattaneo that, "On a given day you can have market fluctuations where prices fluctuate far more than the underlying economic value of the unit," adding that if oil falls to $30 or $40 a barrel he doesn't expect it would stay that low.
(snip)
(Excerpt) Read more at businessinsider.com ...
Sounds like a great buying opportunity, what is the best way to invest in oil?
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Well, if it goes down to $30, there would be little incentive to produce more oil. This will of course cause the price of oil to slowly rise again.
We’re just returning to the good old days of the 1990’s.
It’s just a cycle.
Who knows where this will end? But I sure wouldn’t mind seeing my oil, gas, and electric bills go down, despite Obama’s best efforts to make them all skyrocket.
Hey OPEC - eat sand!!
Let’s re-visit the whole Barrel for a Bucket scenario.
Silver was down over 8 percent today. It has climbed back a bit but is still down over 7 percent.
This does not bode well for the economy. It seems more like deflation and economy that is not able to utilize this cheap energy. Poorly managed economy by Obunglar.
20 dollar oil should get silver down to 6 bucks again, I hope!
Bets being taken now:
Gas prices will fall to $2.00/gallon
Air travel fuel supplements will be removed
Heating oil much cheaper
None of the above
I've got a 4 hour road trip planned to see a special friend that I haven't seen in a while. The lowered fuel prices play a large role in that.
Don't expect a population boom though, I'm too old for babies.
/johnny
If Silver goes below $10, back up the truck and buy all you can. Gold is a good store against inflation, but silver could buy more day-to-day needs if SHTF.
Ticker Symbol for ETF: OIL
http://finance.yahoo.com/q/pr?s=OIL+Profile
The iPath® S&P GSCI® Crude Oil Total Return Index ETN is designed to provide with exposure to the S&P GSCI® Crude Oil Total Return Index. The S&P GSCI® Crude Oil Total Return Index (the “Index”) is a sub-index of the S&P GSCI® Commodity Index. The Index reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate (WTI) crude oil futures contract.
You gotta be kidding!
It's going to work wonders for my economy (and any other consumers of fuels and shipped products)
It’s just a cycle
What goes up must come down and visa versa
Nicolas Maduro of Venezuela already had a “Big Mac Attack” in his pants at the thought of oil dropping that low. The really bad news for him is that there is no more toilet paper (or “papel de tush” as we say in Spanglish) for him to clean up himself.
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