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Posted on 01/12/2015 5:47:20 AM PST by blam
Myles Udland
January 15, 2015
Good morning!
It is a new week and crude oil is making new lows.
(snip)
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(Excerpt) Read more at businessinsider.com ...
Yes! The intention of the Arabs and their operative, Hussein Soetoro, is to destroy fracking.
Fracking Debunks Obama’s ‘We Can’t Drill Our Way Out’
http://news.investors.com/ibd-editorials/120314-728986-fracking-proves-we-can-drill-our-way-to-low-prices-and-independence.htm
Back in 2006, for example, then-Sen. Obama said expanded drilling in the Gulf of Mexico would only “lull the American people into thinking that we can drill our way out of our energy problems.”
When he ran for president in 2008 while gas prices spiked, he mocked John McCain’s call for more drilling. “This is one emergency we can’t drill our way out of,” he said.
After the BP oil spill in 2010, Obama explained that “the reason you never heard me say ‘Drill, baby, drill’ (is) because we can’t drill our way out of the problem.” He went on to claim that “easily accessible oil has already been sucked up out of the ground.”
In 2011, while pushing to end oil industry tax breaks, Obama claimed: “If we’re serious about addressing our energy problems, we’re going to have to do more than drill.”
In 2012, when running for re-election, the president declared: “Even if we drilled every square inch of this country right now, we’re going to be relying on other countries for oil.”
And when he unveiled his “all of the above” energy strategy, Obama lectured the country about how “there’s a problem with a strategy that only relies on drilling, and that is America uses more than 20% of the world’s oil. If we drilled every square inch of this country ... we’d still have only 2% of the world’s known oil reserves.” He added: “We’ve got a math problem here.”
Turns out, it’s Obama who has the math problem.
Right, nothing like the market (good ole supply and demand) to set prices.
LOL. It wasn’t the low interest rate environment and the purchase of subprime assets that bailed out the banks (read state, county and municipal governments that need high RE prices so they can survive off of property taxes)?
Because of the lower price of oil, some economies will begin to grow, and in doing so, help to soak up the surplus production. The price will rebound with the increase in demand.
The prices will be back up to where they were this past summer in about 12-18 months.
Kenyanesian Economics fails every time it is tryed.
All the quisling politicians can think about now is how they can tax gas and harvest the windfall. These parasites have no conscience and no limit to their greed. What they need to do is fight the “product dumping” of the Saudis with an import tariff. This would protect America’s strategic interests by ensuring domestic supply, keeping Americans working and further push oil down to bankrupt thugoocracies like Russia and Venezuela.
Good chart. I get the BHI email weekly and it’s been pretty bad the last few weeks... It will be interesting to see what happens on the production side. That has not slowed as fast.
Naahhh, we're just covertly sending them MASSIVE amounts of US taxpayer dollars to make up the financial shortfall.
You can't keep all your eggs in one peasant-raping basket.
For instance, over the summer, they jumped nat gas 20 cents a therm (from about 70 cents to 90 cents) while no one was looking...
While winter prices are in effect, natural gas prices has been falling for a while.
Yes. A lot of red state jobs will be lost. Blue state leeches wont care though.
Very true. From Ohio to Idaho.
Amazing what an increase in supply can accomplish, even coupled with Zero’s recession, tax hikes, and restrictions on legal commerce.
The U.S. dollar is on top of the world (Sept 2014)
http://money.cnn.com/2014/09/29/investing/us-dollar-strong-four-year-high/
Why 2015 Is Great for U.S. Travel to Europe [other than terrorist attacks, I suppose]
http://www.usnews.com/news/blogs/data-mine/2015/01/09/why-2015-is-great-for-us-travel-to-europe
[snip] Jan. 9, 2015 — The U.S. dollar on Friday was worth 0.84 euros, a rise in the exchange rate compared with a value of 0.73 euros on the same day in 2014...
in contrast with, from December 2013:
Don’t expect dollar strength against the euro in 2014: Goldman Sachs
http://blogs.marketwatch.com/thetell/2013/12/13/dont-expect-dollar-strength-against-the-euro-in-2014-goldman-sachs/
1. Increased oil production in the USA.
2. The Chinese-Russian US$400 billion deal to import initially natural gas, then later develop petroleum resources in eastern Siberia.
3. Increasingly strict fuel economy standards that may level off and start a decline in gasoline (petrol) and diesel fuel consumption.
In short, OPEC members will be hurt big time.
Who is they?
Bernie Horowitz
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