Oil is below $30 now

I can get a bucket of KFC for $26.00. Or, a barrel of oil?

Think about that!

They’ll just borrow the difference. Most developed nations spend more than they make every year; I doubt that prospect will scare the saudis off their price crusade

Folks are talking about sub $20...looking at a storage problem domestically.

Fall 1982 I enrolled in Petroleum Engineering at LaTech, oil was at $32.75. Early February 1983 I was trying to figure out a new major as oil hit $14.75.

Shortly after in 1983 Mom and Dad moved from Memphis to Tulsa. Helping them with that move we saw lots of little drilling boom "towns" (basically clusters of mobile homes around a convenience store and post office) that had literally been repossessed. Just outside South Tulsa was a repo lot for the largest mobile home finance company in America, acres and acres of repo's as far as the eye could see.

Another ripple effect was tons of small banks, S&L's, went under due to oil associated businesses. The valve makers, the pipe suppliers, small trucking companies, small chemical suppliers, trailer and mobile home manufacturers. Was a rough time for lots of hard working Americans across the nation.

Took a decade or more for many to recover and get back to where they were a decade earlier. Basically took steps backward and lost 10 years of their lives while the rest of world advanced around them. Won't find me making truck nut and oilfield trash jokes. For tons of folks it ain't no laughing matter.

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Fall 1982 I enrolled in Petroleum Engineering at LaTech, oil was at $32.75. Early February 1983 I was trying to figure out a new major as oil hit $14.75. Shortly after in 1983 Mom and Dad moved from Memphis to Tulsa. Helping them with that move we saw lots of little drilling boom "towns" (basically clusters of mobile homes around a convenience store and post office) that had literally been repossessed. Just outside South Tulsa was a repo lot for the largest mobile home finance company in America, acres and acres of repo's as far as the eye could see. Another ripple effect was tons of small banks, S&L's, went under due to oil associated businesses. The valve makers, the pipe suppliers, small trucking companies, small chemical suppliers, trailer and mobile home manufacturers. Was a rough time for lots of hard working Americans across the nation. Took a decade or more for many to recover and get back to where they were a decade earlier. Basically took steps backward and lost 10 years of their lives while the rest of world advanced around them. Won't find me making truck nut and oilfield trash jokes. For tons of folks it ain't no laughing matter.

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I remember this too. I was working for a major railroad from 1979-1988 and some of the dudes that would get furloughed in November through April would head out of KC to OK to work in the oilfield for a few months.

Saudi and Russia should have their asses kicked for having this fight right now.

Anadarko just sent word they are shutting down the Permian Basin and taking no deliveries of material.

Do you have a link? That is huge if true.

no just got word from my home office, we do a lot of business with them in West Texas.

Screw the saudis. Tell them to sell a tiger or a gold toilet