Oil Slick Stuff

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I'm not buying any of this crap put out now about low oil prices will globally impede the markets/economy..BULL!..These reports are like all the rest of the gloom and doom they want you to believe..Sure some industries directly associated with OIL and it's production will slow down..even fracking will become less profitable. But on average across America and at conservative estimates too.... people are NOW saving $350 to $400 MILLION dollars a day on lower priced gas...Guess where that money now goes?..Yup, right back into the economy on other products and services. This is a much broader stimulus than any one could have imagined 2 years ago..So I say enjoy the fruits while it lasts...OIL will go back up soon enough I'm afraid.
 
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Sure wish we didn't have to pay for this expensive ethanol to be blended into our gasoline.


$2.479 on the riviera ... guess we're waiting for a hurricane or something. :D
 
with low oil and fuel prices, why hasn't bottles/gallons of oil gone done in price? gallon of diesel oil I use is still $15, same as beginning of yr. :mad:
 
Dumb policies frustrate benefits of falling oil prices [OBAMA]!


By Peter Morici - - Monday, December 8, 2014
Falling gas prices add to holiday cheer, but those are not an unvarnished good for the U.S. economy—thanks to bad economic policy.
Oil selling at about $65 a barrel oil prices gives consumers and many businesses a lot of additional buying power, but it also puts a damper on the U.S. oil and gas boom.


For many U.S. wells, the breakeven price is much lower—for some $40 a barrel—but in the Texas Panhandle, Permian Basin and North Dakota’s Bakken fields, it can be as high as $75 to $80.

For now, U.S. oil production is likely to continue rising because once fields are built, revenues need only cover day-to-day operating costs even if producers don’t recoup initial development costs. Going forward producers will invest less in new drilling, and sales of drilling equipment have already started to drop.
The United States still imports more than 5 million barrels a day, and cheaper foreign oil adds about $75 billion to consumer purchasing power. However, the falloff in drilling activity will significantly subtract from the resulting pop to GDP and one million additional jobs some economists are predicting.
Restrictions on new pipeline development—both Keystone and other east-west projects—are forcing North Dakota producers to ship by rail millions of barrels to East Coast refineries. This adds as much as $10 a barrel to handling and shipping costs, greatly increases environmental and insurance risks, and makes new U.S. drilling projects more vulnerable to prices in the $60 to $70 range for the next several years.[more]
 
4 reasons collapsing oil prices are rattling stocks

By William Watts
Published: Dec 12, 2014 3:22 p.m. ET

EW YORK (MarketWatch) — Falling oil prices are supposed to be good news on balance for the U.S. economy. Nevertheless, crude’s astonishingly rapid decline has served to rattle investors, triggering a strong pullback in stocks this week. On the New York Mercantile exchange crude oil for January delivery settled at a remarkable $57.81, shedding $5.25, since Monday. Here are some of the reasons investors are unsettled by oil’s drop CLF5, -2.16% to five-and -half year lows:[more]
4 reasons collapsing oil prices are rattling stocks - MarketWatch
 
Here are the reasons oil is plunging to $57

By William Watts
Published: Dec 12, 2014 12:43 p.m. ET

Indeed, oil futures CLF5, -2.34% have plunged almost 41% from the beginning of the year, including carnage in Thursday trading that saw oil settle below $60, at $59.95, marking its lowest settlement price since July 14, 2009.Brent LCOF5, -2.07% is down about 44% for the year.

Prices continued to slide lower on Friday, with WTI hitting a stunning $57 a barrel after the International Energy Agency cut its outlook for global demand. On the New York Mercantile exchange, crude oil for January delivery has shaved more than $6, a stunning move over the past five days.
Here’s a look at the factors that have led to the largest price decline since the 2008 financial crisis.
Here are the reasons oil is plunging to $57 - MarketWatch
 
I seriously never thought I'd see gas go down to $3.09 over here. Yipeeee! I wonder how long that's going to last.

What is E10? 10% ethanol? Unleaded at the pump?
 
konakathy said:
I seriously never thought I'd see gas go down to $3.09 over here. Yipeeee! I wonder how long that's going to last.

What is E10? 10% ethanol? Unleaded at the pump?
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This is really good for the economy but they are trying to make it an EVIL, it's NOT! The Strong Dollar is the way to go, with the exception of rising interest rates on the US debt but Obama says our debt isn't important, another thing that he has said that is blatantly WRONG!
 
E10 averaging $2.24 a gallon in BPGA, I filled up yesterday at $2.25 a gallon Yes Sir I like it when it's cheap!chimp-bouncing-on-feet.gif
 
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