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The Last Time The Price Of Oil Crashed Like This?
Posted on 12/22/14 at 2:40 pm
Posted on 12/22/14 at 2:40 pm
quote:
There has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months. The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year by several months.
quote:
It would be difficult to overstate the importance of the shale oil boom to the U.S. economy. Thanks to this boom, the United States has become the largest oil producer on the entire planet.
Yes, the U.S. now actually produces more oil than either Saudi Arabia or Russia. This “revolution” has resulted in the creation of millions of jobs since the last recession, and it has been one of the key factors that has kept the percentage of Americans that are employed fairly stable.
Unfortunately, the shale oil boom is coming to an abrupt end. As a recent Vox article discussed, OPEC has essentially declared a price war on U.S. shale oil producers…
I don't know how legit this website is... the name gives me pause, but the content made me worry.
Thoughts?
LINK
This post was edited on 12/22/14 at 2:41 pm
26
Posted on 12/22/14 at 2:40 pm to yankeeundercover
shite was going down as early as 2007. I dont know if the oil price was as much as a leading indicator as this site indicates.
This post was edited on 12/22/14 at 2:47 pm
Posted on 12/22/14 at 2:41 pm to yankeeundercover
Fear mongering. Stop it.
Posted on 12/22/14 at 2:43 pm to yankeeundercover
Louisiana's economy will take a big hit.
Posted on 12/22/14 at 2:43 pm to yankeeundercover
quote:
Unfortunately, the shale oil boom is coming to an abrupt end
It's not like the oil is going anywhere. .... the economy will flourish with cheap oil from overseas and rebuild the manufacturing segment
Posted on 12/22/14 at 2:43 pm to yankeeundercover
Posted on 12/22/14 at 2:45 pm to yankeeundercover
quote:
OPEC has essentially declared a price war on U.S. shale oil producers…
OPECIOOC
Posted on 12/22/14 at 2:47 pm to yankeeundercover
quote:Ban fracking
Thanks to this boom, the United States has become the largest oil producer on the entire planet.
Yes, the U.S. now actually produces more oil than either Saudi Arabia or Russia. This “revolution” has resulted in the creation of millions of jobs since the last recession, and it has been one of the key factors that has kept the percentage of Americans that are employed fairly stable.
Posted on 12/22/14 at 2:48 pm to yankeeundercover
up until the mid 2000's the oil price was never high enough to crash $40. Lets use percentage drops to see how many times this big of a drop has happened.
Posted on 12/22/14 at 2:53 pm to yankeeundercover
Meth sales will also see decline in West ND, WTX, and Oklahoma.
Posted on 12/22/14 at 2:53 pm to yankeeundercover
quote:
he Last Time The Price Of Oil Crashed Like This?
1986
read about it, bro
LINK
very similar situation as today
Posted on 12/22/14 at 2:54 pm to yankeeundercover
How much did it drop during the great oil crunch of the mid-80's?
Posted on 12/22/14 at 2:56 pm to yankeeundercover
The price drop is OPEC trying to force a slowdown in the shale boom exploration/drilling.
I expect prices to stay low for 4-6 months and then you will see prices skyrocket back up to earlier 2014 year levels.
I expect prices to stay low for 4-6 months and then you will see prices skyrocket back up to earlier 2014 year levels.
This post was edited on 12/22/14 at 2:57 pm
Posted on 12/22/14 at 2:57 pm to yankeeundercover
Saudis intend to put Putin out of business by breaking his economy. It might work.
Posted on 12/22/14 at 3:01 pm to yankeeundercover
absolute nonsense.
the SPIKE in commodity prices (oil, food etc) is what popped the housing bubble and lead to the recession.
This guy has absolutely NO idea what he's talking about and is just selling fear and panic.
the SPIKE in commodity prices (oil, food etc) is what popped the housing bubble and lead to the recession.
This guy has absolutely NO idea what he's talking about and is just selling fear and panic.
Posted on 12/22/14 at 3:01 pm to yankeeundercover
The oil fall along with most goods was due to the economy slowing down when the sub prime bubble burst.
Today the fall is not due to fall in consumption but due to growth in output.
This time the fall is good for the economy.
Today the fall is not due to fall in consumption but due to growth in output.
This time the fall is good for the economy.
Posted on 12/22/14 at 3:48 pm to yankeeundercover
quote:The Gulf south will do quite well with natgas under $5.00 - petrochemical industry will benefit for years to come - not so much for the fracking.
The Last Time The Price Of Oil Crashed Like This?
Posted on 12/22/14 at 3:58 pm to yankeeundercover
we'll be fine.
Russia, iran and venezuela... well not so much.
Russia, iran and venezuela... well not so much.
Posted on 12/22/14 at 4:29 pm to yankeeundercover
No legitimate news site would contain the word prophecy.
Idiot.
Idiot.
Posted on 12/22/14 at 4:32 pm to yankeeundercover
Some people think I am crazy when I say this, but I usually feel like the trucking industry is an economic indicator. In the last few years, there has been a 4-6 month lag between the trucking industry and the economy fluctuations. I can say that right now, the industry is not very slow, considering the holiday season and the fuel prices. That remains to be seen, but based on past indicators in my industry I think well be fine until the late spring when Oil starts to go back up.
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