re: Massive Downsizing In Oil Sector Brings Acute Pain For The Holidays

It really is a fascinating commodity, whether you're in the business or not. It's made hundreds of billionaires and countless millionaires. It was a (if not the) deciding factor of WWII, and still controls our nation's foreign policy. That being said, the drastic fluctuations are just insane. I remember when it hit 70 on the way down 13 months ago and everyone was shitting their pants. I would kill a hobo for $70 oil now.

The sad thing is the experience gap from the 1980's crash was just starting to close. Now we'll have another one. I have several former coworkers who will never work in oil again after this past year. All I can hope is to survive the bust and come out on the other side.

This is what I've been saying all week and people don't listen.