re: Oil dive deepens to 12-year low; could hit $20 on China fears

quote:

---

but when it sinks the rest of the economy, you happy fricks will be crying.

---

quote:

---

Except Lake Charles which is hopping right now.

---

As a whole, Louisiana will suffer, but the developments in LC will shield it from the pain for the next few years.

Almost 2% of the Louisiana population is directly employed in the O&G industry. At 50% of the population is directly affected by the O&G industry.

quote:

---

Keep dropping baby!

---

so this is a fricking retarded statement.

quote:

---

Where is the bottom then?

---

I'll check my magic 8 ball. $60 is easy to assume.

Seriously, as a company that hedges heavily on exploitation and upstream they won't fare great.

They are heavily invested in refining, but not enough to offset.

If you are looking to ride, jump on a pure refiner like VLO. The margins are huge right now.

quote:

---

Not nationwide but pre-foreclosures are rising in certain areas of the state.

---

Again, not the same scenario as 2008.

In LA, if some foreclosures increase or residential developers/builders get caught with their pants down because they chose to overextend themselves that isn't going to tank the entire mortgage industry on the nation.

The bad loans and the mortgage securities based on them was the problem in 2008.

quote:

---

Not nationwide but pre-foreclosures are rising in certain areas of the state.

---

Am I wrong in thinking that S. La want as heavily hit as the rest of the country in 2008? I could see this turning bad if we hit 80's level problems with the sad state we are already in.

quote:

---

In LA, if some foreclosures increase or residential developers/builders get caught with their pants down because they chose to overextend themselves that isn't going to tank the entire mortgage industry on the nation.

The bad loans and the mortgage securities based on them was the problem in 2008.

---

You're telling me shite I know. I have been in RE since '01 and went through '07 and '08 first hand with a lot invested in specs and flips.

I was just stating that it will get bad in certain areas along the gulf coast and has already started.

quote:

---

It won't be a net positive when the worlds economies tank.

---

And besides a few countries--the ones that happen to hate the US incidentally--how are low oil prices going to cause economies to tank?

Destabilizing Saudi Arabi ought to be fun to watch.

quote:

---

Just wondering if we get the full brunt of this now that we don't have the safety net.

---

I think the developments in Lake Charles will/can shield a large portion of the state from it being too bad. No reason a lot of the oil hands can't find work here on some of these projects.