Surprisingly unsurprising!
Let ‘er fall.
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Gold UP. Silver UP. Mama Like! :)
At these prices the government better be buying up all they can to refill the strategic reserves that people demanded they open years ago, when prices were high, to bring prices down.
Louisiana better be washing out more holes in their salt domes for places to store the oil.
All beside the point
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Low oil prices must somehow prevent the Fed from printing money or prevent the government from borrowing and spending.
Those are the dominant factors in the stock market.
If we have too much oil, why doesn’t the Texas Railroad Commission set the allowable in Texas below 100%? Louisiana and Oklahoma could do the same thing. Not certain about North Dakota.
Before the huge dow runup last week I was watching it collapse the week before. I found it interesting that the collapse made very little news but the run up was a big deal. At the end of the run up it was only a hundred or so points higher than it was before the big fall beforehand.
And now the fall continues.
I remember before the big collapse in 2008 the market was having wild swings in both directions. I was noticing a few weeks ago that it is happening again, and getting wilder.
It’s kinda like a top just before it completely stops spinning. I REALLY would not want to be there right now.
Oil was less than $40 a barrel throughout the 1990s, and went over $40 a barrel in 2004.
http://en.wikipedia.org/wiki/Price_of_oil#mediaviewer/File:Crude_oil_prices_since_1861.png
The last time and only time oil dropped this low and this fast was in 2008. We ended up with an economic collapse and voted in a messiah!
Barry's "boomin'" economy has been ruined by the drop in gas prices that has caused the GOOBers to want to pass a federal gas tax increase so the American people can pay for more government handouts and freebies. This is some weird ****.
Talk about a "rollercoaster" ride.
And I thought the DOW plunge was because 0bama came back to town and is getting ready for a road show on how he plans to help the middle class next. With half of obamacare folks about to get an audit, I don’t think anyone needs any more of his help.
Yes, very true. Already marginal operations in the oil patch with debt tied to high prices are starting to hurt and folks dependent on them are having hours cut back.
We should open up all those land and ocean areas that we have closed off to cheaper methods of drilling (compared to fracking) over the years.
Many are brooding over big oil’s demise. It is a sign that things are totally out of whack, as if the oil industry that produces energy IS our economy instead of the multitude of those who would use cheap energy to produce goods and products to thrust the economy forward. Now, that will make for a diverse, sound economy. The GDP of producers who use the energy will far exceed that of big oil. Energy is the dynamo and when it is cheap just watch the economy accelerate.
Low oil prices hurt only those involved in the industry. The benefit to the overall economy is enormous.
