They think about fracking morning noon and night.
Obama has got to make a move to shut it down.
Just what politicians want to hear.
Time to raise energy taxes.
A real shame if it doesn’t. We won’t drill here in TX until at least $70.
What’s poor Venezuela going to do?
****hard times ahead for America’s shale-oil and gas industries. ***
More reason to build more REAL natural gas and oil fired power plants!
And a few coal plants!
Good.
Weird thing is that this guy might possibly be right.
The reason that is stayed above $100 for so long is that the OPEC cartel worked out pretty well.
Now? Not so much.
Local governments have discovered the same thing when they begin to outsource some of their functions. People who aren't "entitled" can often perform those functions more efficiently and at lower cost.
PEAK OIL!!!!
oops....
Like trusting the advice James Carville gives Republicans on winning elections.
It’s called consider the source & think for yourself. And study history.
The oil market is cyclical. Always has been. Always will be.
Wonder when a government goes after market/price manipulation?
“Oil Is Never Going Back To $100”
Could be cause the dollar is gonna COLLAPSE first.
"A clever reader with probably more knowledge of the Middle East than they would care to have put before me a very interesting question. Is the US laundering money to Saudi Arabia through Citigroup in order to “hedge” against, or compensate Saudi Arabia for the drop in oil prices?
Well, it sure as hell looks like it.
I recently tweeted the reportage on the massive derivatives position being accumulated by Citigroup (the parent Holding Company) and Citibank (the bank held by Citigroup HoldCo) – $135 TRILLION. Citi is adding roughly $10 TRILLION PER QUARTER, and the bank is now holding MORE derivatives than the parent HoldCo, which is unprecedented and shocking. Even worse, the bank – the derivatives holdings of which are now “guaranteed” by the FDIC, which is to say the US TAXPAYERS, thanks to the Cromnibus bill – is where the exposure is being added – $9 TRILLION was added to the Citibank portfolio within the third quarter of 2014 alone – the latest available data. Citi is the only big bank that is INCREASING its derivatives position, all the other big banks have modestly reduced their derivatives exposure in the same time period. But Citi is piling it on as hard and fast as it can – NINE TRILLION $ IN ONE QUARTER!!
Do you know who the largest private shareholder of Citigroup is?
Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud. Mister Saudi Arabia.
So, I’m going to indulge in a little dot connecting here. I don’t think this is terribly far-fetched.
I hypothesize that the Washington DC regime is providing Saudi Arabia with a “laundered short hedge” on oil prices through Citi. Citi “borrows” money from the Federal Reserve at next to zero percent, plows it into swaps (a form of highly leveraged derivative wherein cashflows, not assets, are the underlying “commodity”) at this stunning clip because all swaps are held “off balance sheet”. Remember that term from MF Global?
The position is such that it makes money when oil prices drop, thus “hedging” Saudi Arabia. If the poop hits the fan, thanks to the Cromnibus, 100% of Citibank’s derivatives portfolio is now under the umbrella of the FDIC, which we all know means the Federal Reserve printing dollars to bail out their friends. The FDIC is only sitting on a few billion in assets. It’s a joke.
So, the Washington DC regime has essentially posted YOU AND SEVERAL GENERATIONS OF YOUR PROGENY as the collateral guaranteeing a short hedge on oil prices that it is providing for Saudi Arabia through its ownership of Citigroup. In other words, MONEY LAUNDERING, EXCEPT ON A MULTI-GENERATIONAL, CIVILIZATIONAL SCALE.
Lee Greenwood could not be reached for comment.