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Started By
Message
re: Crude below $50
Posted on 1/6/15 at 5:02 pm to Napoleon
Posted on 1/6/15 at 5:02 pm to Napoleon
quote:
our nation as a whole is not reliant on the sale of oil. In fact cheaper oil is more of a boom for our nation than a bust.
Sure industries will be affected and people in the industry will suffer.
But others will do much better.
You can look no further than Wall Street for proof that is wrong. $100+/bbl is unnecessary, but so is sub-$50/bbl.
1
Posted on 1/6/15 at 5:03 pm to htownjeep
quote:
The graph you linked to perfectly shows what I mentioned earlier. Change the graph to show '08 and you'll see the huge dip in their production. They did it as a favor and got screwed for it as they lost market share soon thereafter. They are telling the world that they won't do it again and any businessman worth a lick would do the exact same thing.
100% correct, the Russians flat lied to them and ramped up production as OPEC was cutting back to prop up prices. OPEC has not forgotten that. Cutting their production would absolutely bring about a degradation in their market share until they eventually would have to capitulate. Boom 1981 all over again. The Saudi's holding pat now is probably best for everyone in the long run. A short market blip is better than the carnage that would ensue in that nightmare scenario.
Posted on 1/6/15 at 5:10 pm to NOFOX
quote:
Why should they cut production instead of someone whose cost is $50-75/bbl
I'm not saying they "should", although they are one of the only countries or entities with this option.
but regardless which would u rather:
30mm bpd at $50/bbl
Or
20mm bpd at $90/bbl
....they are doing this intentionally to retain market share.
Posted on 1/6/15 at 5:22 pm to CptRusty
I can't wait for road taxes to go up and bring the price of fuel up and stick everyone who has posted cheap shots. You need cheap gas because you don't make much money at chipotle rolling burritos.
Posted on 1/6/15 at 5:43 pm to Nado Jenkins83
I saw that crap.
Begrudging people their jobs is kinda horseshite.
Begrudging people their jobs is kinda horseshite.
Posted on 1/6/15 at 5:45 pm to N2cars
Anyone who works for a living deserves some respect. They aren't committing crimes or living off of the state.
Posted on 1/6/15 at 5:51 pm to glassman
Can't hate on anyone making a honest living. No matter what they're doing.
Posted on 1/6/15 at 5:53 pm to glassman
Let's not get carried away, plenty of people who work live off the state.
Posted on 1/6/15 at 5:55 pm to GreatLakesTiger24
quote:
Let's not get carried away, plenty of people who work live off the state.
In some ways. But, they get up every day and go to work.
Posted on 1/6/15 at 5:55 pm to tgrbaitn08
I understand cheaper at the pump equals a few more bucks for Joe Consumer to spend. I just don't feel that prices at the grocery store and most consumer items are going to go down much if any.
Posted on 1/6/15 at 5:56 pm to slackster
quote:
$100+/bbl is unnecessary, but so is sub-$50/bbl.
What does necessity have to do with the market?
Posted on 1/6/15 at 5:59 pm to achenator
quote:
I just don't feel that prices at the grocery store and most consumer items are going to go down much if any.
Of course not, they will pocket those lower transportation costs and fuel expenses.
Posted on 1/6/15 at 6:00 pm to glassman
At first. Higher margins will bring increased competition and lower prices
Posted on 1/6/15 at 6:01 pm to glassman
quote:
Anyone who works for a living deserves some respect. They aren't committing crimes or living off of the state.
The mentality of people enjoying seeing others lose their jobs just so they can save a few dollars baffles me. Who cares if you think their job is easy or overpaid. Supply and demand.
Posted on 1/6/15 at 6:01 pm to I Love Bama
Depends if this a temporary drop in prices. They will come down if this is a longer term event. I don't think it is a long term event.
Posted on 1/6/15 at 6:04 pm to fightin tigers
quote:
The mentality of people enjoying seeing others lose their jobs just so they can save a few dollars baffles me
quote:lol
Supply and demand.
Posted on 1/6/15 at 6:06 pm to glassman
That's the billion dollar question.
Posted on 1/6/15 at 6:09 pm to GreatLakesTiger24
quote:
lol
What's laughable about it?
Posted on 1/6/15 at 6:11 pm to I Love Bama
quote:
That's the billion dollar question.
Try trillion dollar question..
Posted on 1/6/15 at 6:14 pm to glassman
Tru dat
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