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re: Oil dive deepens to 12-year low; could hit $20 on China fears
Posted on 1/11/16 at 10:00 pm to fisherbm1112
Posted on 1/11/16 at 10:00 pm to fisherbm1112
quote:
Apparently just misunderstanding what the new diversified steel industry is?
Read his post again. He didn't say the steel industry was diversified. He said the whole state of OH has diversified from being so dependent on steel and it only made up 1.4% of their economy last year.
1
Posted on 1/11/16 at 10:01 pm to fisherbm1112
quote:Was I that unclear? I meant diversification across sectors, not within. I thought that was obvious from my comment on how small steel was relative to the entire economy.
Apparently just misunderstanding what the new diversified steel industry is?
This post was edited on 1/11/16 at 10:02 pm
Posted on 1/11/16 at 10:02 pm to stout
quote:
Read his post again. He didn't say the steel industry was diversified. He said the whole state of OH has diversified from being so dependent on steel and it only made up 1.4% of their economy last year.
Liquor and anticipant reading can cause misunderstandings.
Posted on 1/11/16 at 10:03 pm to fisherbm1112
quote:It's all good. There is a good football game on.
Liquor and anticipant reading can cause misunderstandings.
Posted on 1/11/16 at 10:04 pm to fisherbm1112
So now that I see I was on the same page just with my head in my arse how about that Championship game huh? 
Posted on 1/11/16 at 10:13 pm to fisherbm1112
What is new and diversified? Steel is in virtually everything from automotive, construction, oil, shipbuilding, industrial, consumer product and on and on. And always has been. I would not think upstream and midstream would be as large a consumer of steel as many other industries that may or may not benefit from lower oil prices.
Posted on 1/11/16 at 10:22 pm to saintforlife
They're saying now gas could hit 1 dollar a gallon in many places particularly in the southeast
Posted on 1/11/16 at 10:24 pm to LSUAlum2001
quote:
Sure, gas prices are cheap as shite, but when it sinks the rest of the economy, you happy fricks will be crying.
Yeah, not really
Posted on 1/11/16 at 10:29 pm to LSUAlum2001
quote:
Sure, gas prices are cheap as shite, but when it sinks the rest of the economy, you happy fricks will be crying.
Low oil won't sink the US economy. Our economy is too diversified...that much extra cash in people's pockets will help out other industries by increasing consumption of goods
Posted on 1/11/16 at 10:31 pm to deltaland
quote:
They're saying now gas could hit 1 dollar a gallon in many places particularly in the southeast
Not anytime even remotely soon. Maybe by mid-summer if there isn't a temporary snapback.
Posted on 1/11/16 at 10:31 pm to malvin
quote:
This directional driller I'm working with on the other hand...He has been complaining this whole job about the pay cut we took and how it's slow and he isn't making enough money. He has had his house, boat, side by side, camper, and motorcycle repossessed and has declared bankruptcy. His main complaint is that since he is tied up with bankruptcy he can't go buy another boat.
Sounds like he is one of those 60k dollar millionaires who lived way beyond his means.
Posted on 1/11/16 at 10:33 pm to Restomod
If people think the american oil and gas industry crashing will not affect the rest of the economy, I want what they are smoking.
Posted on 1/11/16 at 10:36 pm to deltaland
Directional driller?
Probably a 200k millionaire
Probably a 200k millionaire
Posted on 1/11/16 at 10:38 pm to yellowfin
quote:
Directional driller?
Probably a 200k millionaire
Guy above is clearly misinformed. 200k is a conservative number
Posted on 1/11/16 at 10:38 pm to Revelator
quote:
It won't be a net positive when the worlds economies tank.
The world economies won't tank due to oil dropping except countries like Russia who depend on it solely.
China is the world's largest importer of oil and they are tanking..you mean to tell me more expensive oil is good for them? China is tanking because of their financial issues that their government created, and the US stocks are dropping due to being so closely tied to china, along with Europe.
Oil and other commodities are dropping simply due to oversupply caused from a decrease in demand and over production that comes as a side effect of economies not doing well.
Posted on 1/11/16 at 10:38 pm to deltaland
quote:
Sounds like he is one of those 60k dollar millionaires who lived way beyond his means.
Sounds like you don't know how much those guys really make.
Posted on 1/11/16 at 10:39 pm to yellowfin
I just had to empty out my savings because of this shite. Only hope now is to buy lottery tickets with what I have left.
Posted on 1/11/16 at 10:44 pm to Tiger Ryno
I'm gonna take my money, move to Cali, and start farming grapes
Posted on 1/11/16 at 10:44 pm to Tiger Ryno
You should put it all into the Iraqi Dinar
Posted on 1/11/16 at 10:46 pm to stout
Dinar? Haha, no. Krugerrand is where it's at.
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