Posted on 12/10/2014 2:10:16 PM PST by John W
NEW YORK (TheStreet) -- If investors had hoped stocks had absorbed most of the headwinds associated with lower oil prices, they were sorely disappointed on Wednesday as the commodity crash continued.
Crude prices struggled to remain above $60 a barrel with West Texas Intermediate tanking 5.1% to $60.54 a barrel after OPEC warned that demand for oil in 2015 could slow to its lowest point in 12 years. Just as oil futures stabilized midmorning, the commodity sank to new lows after the EIA reported a large increase in oil imports contributed to oversupply in domestic crude oil inventories for the week.
The energy sector was dragging on benchmark indices with the Dow Jones Industrial Average down 1.5%, or 266 points, and the S&P 500 falling 1.6%. It was the worst drop for both indices since early October. The Nasdaq slid 1.7%.
(Excerpt) Read more at thestreet.com ...
CPiii....
Any hints as to techo-innovations to keep our guys and gals in the horizontal drilling industry cost competitive?
My guess is their are aces up their sleeves, I love to hear what they are...
What business are you in, comrade? I’ll be sure to dance on your grave when the market tumbles.
I burn as much electricity as possible. But Texas is on our own grid.
“What business are you in, comrade? I’ll be sure to dance on your grave when the market tumbles.”
I have zero dollars in the market, only a fool has money there, it’s been like this for 6-7 years. QE inflated stocks and commodities and then the suckers came back in off the sidelines thinking they were getting in to a bull market.
So, comrade sounds as if you fit the bill of a sucker, er I mean investor in a fools market.
But what you now want is for the rest of us to prop up the markets for you and others who jumped back in.....fascism, don’t you love it...
Remember all of those who whined about price gouging by “Big Oil”.
Well, for me it's been a whole hell of a lot more than ten bucks a week! And that just on motor fuel alone. It's a whole lot more when you add in the costs associated with transporting virtually everything we consume (along with the cost of hauling our crap away). We should do everything in our power to force the collapse of OPEC. We would already have done so if it hadn’t been for the interference by Obola. I'm just wondering what all of your "neighbors" do that will be so negatively impacted by low oil prices? Maybe you could "enlighten" all of us as to just who's going to get a pink slip.
Obviously, you know very little about the extraction of oil and gas from the earth.
I’m not talking about the stock market. I am talking about the countless people who work the oilfields so that you can fill your gas tank for $3.00 a gallon. $50 oil will mean about a quarter of them will lose their jobs. Many of them, close friends and neighbors of mine. So, you enjoy your cheap gas for the next couple years until the Mooselimbs have run out of business the companies with the worst balance sheets. Then, you’ll be whining when the price goes back through the roof. You can count on it going higher than before. The world is running out of cheap, easy oil.
Deflation. We ain’t buying, we ain’t goin on that vacation, we’re making are own gifts.
“Let my people go.” - Extortion-Care
I have a very strong position in oil equities. Does that make me a parasite?
It’s possible.. the stock market is gambling..
Lifes a gamble.. many hosts and many parasites..
Clueless......
Thanks. Keep it up, and Hosepipe may call you a parasite like he called me. Some of these bozos don’t realize that some of us work(ed) in this industry.
Pretty bad when low energy prices are deemed a bad thing - too many counting on unnecessarily high costs and hoarding to take advantage for when prices rise - hope they have big bloody bites out of their a$$eS.
Good news for America is bad news for DemocRats.
What will today bring, any thoughts?
I’m glad you mentioned hauling our crap away. I am locked in to one disposal company in my area who, for the past nine years, have upped my bill by one dollar every four months due to “the rise in fuel prices”. I am going to call them today since the price of fuel is now tumbling and ask them if they are going to lower my bill to compensate for lack of fuel prices rising, in fact, fuel prices going down to what they were five years ago. I wonder how they will respond to me asking that my bill be dropped by $20.00 per year?
thanks.
So you really are a New World Order fascist/socialist, you think we should keep oil prices inflated to server your friends needs, while the greater good, ie more jobs, more savings, better living standards are in the direction of lower oil prices.
BTW- estimates of US oil reserves state that we have enough oil to last us 300 years at our present rate of consumption. Also you should know that oil is always being produced by the planet somewhere under ground, so we should never run out. IOW it isn’t made from dead dinosaur’s....
But thanks for stopping by, you may want to stay over at DU, where there crap you post is agreed on.
” I am locked in to one disposal company in my area who, for the past nine years, have upped my bill by one dollar every four months due to “the rise in fuel prices”.
Like you, we have no alternative due to the fact that the town negotiates contracts with both our services ( one for garbage and the other for recycling and yard waste. These companies show a “fuel surcharge” on each bi-monthly billing. It will be interesting to see how quickly it goes away. We have so much yard waste, that we have a utility trailer and take most of it to the dump ourselves. Over the past two years, the total has amounted to just over 14 tons.
Thanks. Keep it up, and Hosepipe may call you a parasite like he called me. Some of these bozos don’t realize that some of us work(ed) in this industry.
I called you nothing...
If the shoe fits......... WEAR IT!...
You’re projecting..
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