Hmmm...a commodity needed in almost every facet of the american economy drops in price and it's a bad thing?
What kind of crack are you smoking?
Skyrocketing petroleum prices will eventually effect every part of the economy in a negative way -except for oil stocks and the people who profit from high oil prices.
You're concerned about less than 1% going bad while 99% of the economy would benefit. Yeah, we should keep it sky high just so the people who've invested in oil stocks don't get soaked. Man.
If you're taking crude long, you gotta know its a huge risk.
I can only hope it does hurt those pensions--it can leave them peniless who threw it all into oil speculating for all I care, pushing the price up hurts the economy long term because it hurts the purchasing power of ordinary Americans. This is the equivalent of Pete Rose betting against the Reds (sports fans think of it that way), and that's the straight dope...
Thanks to a nasty divorce and child custody case, I rent and own no stock or retirement.
Let all the bubbles burst... ;^>
So we should continue to pay high prices so the highly speculative hedge funds are safe? Do pensions really invest in the hedge funds? Is that wise?
I'm curious to know how close to capacity is the Oil Reserve and how many barrels a month do we buy.
Huh? I was in some oil, sold off recently. Made a bunch, but maybe it was a little too early. I'm holding on to my little drillers stocks until it goes back down to $45.
How does lower oil prices hurt the average Joe. Mutual fund traders are smart enough to get out quickly. You don't think they watch this crap with all 3 eyes?