Posted on 10/27/2014 7:49:15 AM PDT by SeekAndFind
Crude oil just broke $80.
In morning trade on Monday, the price of crude oil fell below $80 a barrel for the first time since mid-2012 as energy prices continue to plummet around the world.
The most recent drop in oil, which has been a bear market since topping out at about $107 during the summer, follows a cut in oil-price expectations from Goldman Sachs' Jeff Currie over the weekend.
Currie took his oil-price forecasts for WTI Crude to $75 a barrel in the first quarter of 2015 and to $70 a barrel in the second quarter of next year.
Longer-term, Currie expects WTI prices to stabilize near $80 a barrel, and Currie said that "uncertainty around the required price to slow down US shale production growth is a key risk to our forecast."
Currie's forecast relies on three key reasons:
* We have greater confidence in the scale and sustainability of US shale oil production. This implies that the global cost curve has shifted lower and that cost deflation is sustainable.
* We forecast that accelerating non-OPEC production growth outside North America will outpace demand growth, leaving the global oil market oversupplied.
* We believe that OPEC will no longer act as the first-mover swing producer and that US shale oil output will be called upon to fill this role.
(Excerpt) Read more at businessinsider.com ...
I know and your answer is telling.
Have you stopped beating your wife and abusing your kids yet?
So, you believe in molesting little children?
Sounds to me like you're an animal abuser. Or you're too stupid to not know what collusion is.
Which one is it?
It was 13.9 cents a gallon when I was in high school.
whose husband told her the air in her tires needed to changed”
That is toooo funny. The fact that she obviously believed her husband made it all the more humorous. You all were so polite to go along with her comment. Poor husband. Sounds like something Obama would say when he was preaching to people complaining about the cost of gasoline by telling them to check the air in their tires.
And yes, I do remember having my windows washed. That was back in the day when we actually had service - and with a smile yet!
When I was small my parents bought their gas at the local Phillips. Mrs. Johnson, the owner’s wife, always had homemade strawberry ice cream every Wednesday, four dips in one double cone for ONE DIME! It was my treat every Wednesday night on the way home from prayer meeting.
Nobody is shutting in wells at 80 dollars a barrel.
Between Thack and I we probably have 70 to 80 years in this business. Thack was trying to tell you but for some reason you were unable to understand what he was saying. Your problem is at a local level not national, oil producers have no control over the price of a barrel of oil. There are allot of factors come into play when your looking at pump prices and most of that is shipping, demand, labor, local and state taxes. Your insult’s to Thack were unwarranted and childish and only pointed out your ignorance on this subject, put on your hat and go sit in the corner.
You have a great day. God Bless.
We shall see.
Fuel prices here have already dropped by nearly 25%. And that’s retail gasoline. When oil prices rise, shipping charges do so immediately.
I’m pretty sure that enough angry calls from customers or bad press directe at FedEx, UPS and freight haulers would start the ball rolling.
Those passing along the savings will leverage the trend.
I rarely listen to him anymore either. I recently moved and my commute went from 1.5 hours a day to 40 minutes a day. Add to that my FM modulator that I used to listen to podcasts from my phone through my car speakers broke. I plan on getting back into him when I find time though.
I like the sound of that.
You sound very much like me...
I was using the FM thingy, but lent it to a friend.
Probably the reason I don’t listen much.
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