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re: All major indexes down 3.3% or more today because of rout in oil, slowing demand
Posted on 1/15/16 at 12:00 pm to slackster
Posted on 1/15/16 at 12:00 pm to slackster
quote:
All major indexes down 3.3% or more today because of rout in oil, slowing demand by slacksterI thought cheap oil/gas was good for the rest of the US/world? Shouldn't everyone be pouring the money they're saving on fuel into other forms of discretionary spending? Nope, retail sales were down in December and flat if you exclude autos/gasoline. Economists expected a .4% increase. Hey, who cares if the stock market is down 9% since the start of the year, as long as I get to save a few pennies at the pump baby!!! Perhaps paying $1.65 at the pump shouldn't be celebrated once you understand the global dynamics that have gotten us to this level. Whether you believe oil is a catalyst that is dragging down the market or you think oil is just an indicator of much bigger global problems, one thing is for certain in 2016 - lower oil hasn't translated to anything good for the vast majority of sectors in this country.
Preach on brother!!!!!
0
Posted on 1/15/16 at 12:00 pm to slackster
The market was rising last year as the oil prices dropped. Maybe correlation isn't causation.
Posted on 1/15/16 at 12:00 pm to slackster
Can't wait to go to the Costco and fill up my truck for under $40. Instead of using that extra money I saved on gas somewhere else, I will save it and not spend it elsewhere.
How does that make you feel OP?
How does that make you feel OP?
Posted on 1/15/16 at 12:01 pm to slackster
quote:
Shouldn't everyone be pouring the money they're saving on fuel into other forms of discretionary spending?
I think they poured it into Powerball tickets or something.
This post was edited on 1/15/16 at 12:02 pm
Posted on 1/15/16 at 12:02 pm to Sneaky__Sally
quote:
I don't care, the stock market rides cycles. Oil does too. Everyone with a brain knows this. Essentially, deal with it. - also if you think everything that is going on is simply due to oil, you are an idiot.
I'm already on the books saying that the decrease in oil prices in 2016 is an indicator of broader growth issues across the world. My position is that higher oil prices in the next 6-12 months would be a good thing for most people because it would mean good things for the overall economy.
The idea that paying less for gas in the next few months is good for everyone is shortsighted when you consider what that would likely mean for the overall economy.
Posted on 1/15/16 at 12:03 pm to slackster
Geez, big oil stocks are some of the heaviest divy payers out there. Buy that shite while its cheap. I'd rather oil stocks stay cheap for about another 15 years and then go up 
Posted on 1/15/16 at 12:05 pm to Jim Rockford
He knows that which makes this "position" of his all the more odd.
Yes, if my portfolio would go up 10% and the deal is that I pay a buck more at the pump per gallon, sure, game on.
But falling oil and gas prices are a symptom, not a cause of a (possible) global recession so I fail to see how cheering on lower prices as a result of a downturn that's coming regardless is somehow not seeing the bigger picture.
Yes, if my portfolio would go up 10% and the deal is that I pay a buck more at the pump per gallon, sure, game on.
But falling oil and gas prices are a symptom, not a cause of a (possible) global recession so I fail to see how cheering on lower prices as a result of a downturn that's coming regardless is somehow not seeing the bigger picture.
Posted on 1/15/16 at 12:05 pm to slackster
quote:
However, if paying $12 more for each tank ($.80 more per gallon on a 15-gallon tank) means that the global economy can continue to grow, isn't that better than the alternative?
If paying the extra money is due to natural market forces with the economy booming making oil in such high demand that all of the small independent US producers are doing well, then yes. If it is because there is some sort of artificial manipulation of oil prices which effectively subsidizes inefficient US production, then no.
Posted on 1/15/16 at 12:06 pm to slackster
I don't know what you are "on the books" saying. Your OP made it seem like you were of the opinion that oil pricing was causing the economy to tank.
And if the economy is tanking, i'll happily save some bucks wherever I can.
And if the economy is tanking, i'll happily save some bucks wherever I can.
This post was edited on 1/15/16 at 12:07 pm
Posted on 1/15/16 at 12:06 pm to blueboy
quote:
The market was rising last year as the oil prices dropped. Maybe correlation isn't causation.
You're right, and I'm not trying to imply causation in this thread, although there are legitimate arguments to be made that a credit crunch due to oil would be a major concern for the entire country.
However, oil is now following the market in lockstep for 2016. Every time you pay less at the pump you're likely looking at mounting losses in wealth for a majority of Americans with equity investments. Is saving $.25/gallon worth a 9% drop in the stork market since the start of the year?
Posted on 1/15/16 at 12:09 pm to slackster
There have NEVER been down times in the market that lend buying opportunities. You're absolutely right.
This post was edited on 1/15/16 at 12:09 pm
Posted on 1/15/16 at 12:09 pm to Walking the Earth
quote:
Yes, if my portfolio would go up 10% and the deal is that I pay a buck more at the pump per gallon, sure, game on.
This is my point. We're on the same page.
My position is that calling for cheaper gas is akin to calling for a global recession at this point. I believe you won't have one without the other.
It is illogical to simultaneously want even cheaper fuel and global growth at this stage in the game.
Posted on 1/15/16 at 12:10 pm to slackster
The market and price of oil will rebound. Cheer up.
Posted on 1/15/16 at 12:12 pm to slackster
quote:
Every time you pay less at the pump you're likely looking at mounting losses in wealth for a majority of Americans with equity investments. Is saving $.25/gallon worth a 9% drop in the stork market since the start of the year?
That's not how it works. The whole idea the US drilling our way to energy independence is taking effect. US competition and innovation has dropped the price of oil and appears to have popped a bubble. You are essentially advocating for a tax to be placed on oil to subsidize/prop up domestic E&P that the market does not support.
ETA - you weren't overly clear in your point, but if you are saying don't cheer for lower gas prices because it likely means the economy is not doing as well, then that is valid. But the only reason I would cheer/want higher energy prices is if those prices are naturally created by a growing economy.
This post was edited on 1/15/16 at 12:17 pm
Posted on 1/15/16 at 12:16 pm to PhiTiger1764
so much 
my life hasnt changed a bit because of this except better gas prices which i will gladly take. Soryy anyone lost money in market or oilfield. Not my prob
my life hasnt changed a bit because of this except better gas prices which i will gladly take. Soryy anyone lost money in market or oilfield. Not my probPosted on 1/15/16 at 12:20 pm to jimbeam
quote:
There have NEVER been down times in the market that lend buying opportunities. You're absolutely right.
What are you talking about? I'm well versed in the history of the market. You can view it as a buying opportunity if you'd like, but that doesn't mean the ride down is enjoyable.
Posted on 1/15/16 at 12:27 pm to slackster
I'm likely moving to Houston soon and the continual steep decline in the oil markets makes me anxious, to be frank. I know the city is more diversified than it used to be, but oil is still integral to its prosperity.
Posted on 1/15/16 at 12:27 pm to NOFOX
quote:
you weren't overly clear in your point
Fair enough.
I'm not advocating for any government bailout or intervention here. I'm not in the oilfield myself, but I can't get over the asinine opinion that the only fallout of the current collapse is a drop in truck nut sales.
For the millionth time, it is reasonable to assume that moderately higher oil prices would be a good thing for the average American worker in the grand scheme of things.
Posted on 1/15/16 at 12:30 pm to slackster
quote:Oh, I hear you. I don't root for oil to drop. I still collect oil royalties, and they ain't what used to be.
You're right, and I'm not trying to imply causation in this thread, although there are legitimate arguments to be made that a credit crunch due to oil would be a major concern for the entire country.
Plus, Lafayette is getting depressing lately.
Posted on 1/15/16 at 12:30 pm to slackster
quote:
My position is that calling for cheaper gas is akin to calling for a global recession at this point.
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