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US crude dips below $31, hits fresh 12-year low
CNBC ^
| 01/11/2016
| Staff
Posted on 01/11/2016 11:08:24 AM PST by Red Badger
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To: Red Badger
Because those who will pay for it will.................
That doesn't really answer the question as to why the cost went up. If I would change from Shell to Chevron for a five cent difference, competition should drive the actual asking price to cost + profit. As the profit motive hasn't changed, what has made the cost go up so much greater than the cost of inflation (even allowing that real inflation is greater than the phony numbers we are given).
41
posted on
01/11/2016 1:30:59 PM PST
by
Dr. Sivana
(There is no salvation in politics)
To: TexasCajun
OPEC - that is obvious, they said they were deliberately not cutting production.
42
posted on
01/11/2016 1:40:27 PM PST
by
dynoman
(Objectivity is the essence of intelligence. - Marylin vos Savant)
To: TexasCajun
OPEC wanted to kill shale oil plays. And they have.
43
posted on
01/11/2016 1:41:14 PM PST
by
dynoman
(Objectivity is the essence of intelligence. - Marylin vos Savant)
To: dynoman
Not just OPEC, I found this chart on US producers, Oct. 2105
I also saw a number around 60,000 US workers affected, mostly downstream drilling, equipment mfg & service companies.
44
posted on
01/11/2016 1:57:56 PM PST
by
TexasCajun
(#BlackViolenceMatters)
To: TexasCajun
45
posted on
01/11/2016 2:04:33 PM PST
by
thackney
(life is fragile, handle with prayer)
To: napscoordinator
So if China is bringing oil down why is it not doing the same to the Dow? We now officially have the entire world in recession.
46
posted on
01/11/2016 3:24:08 PM PST
by
Sam Gamgee
(May God have mercy upon my enemies, because I won't. - Patton)
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